Looking At Workday's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bearish stance on Workday.

Looking at options history for Workday WDAY we detected 23 strange trades.

If we consider the specifics of each trade, it is accurate to state that 39% of the investors opened trades with bullish expectations and 60% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $607,210 and 17, calls, for a total amount of $645,205.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $220.0 for Workday over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Workday options trades today is 872.38 with a total volume of 1,494.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Workday's big money trades within a strike price range of $85.0 to $220.0 over the last 30 days.

Workday Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
WDAY PUT SWEEP BEARISH 01/20/23 $190.00 $253.7K 774 1
WDAY PUT TRADE BEARISH 09/16/22 $120.00 $207.0K 459 600
WDAY CALL SWEEP BULLISH 01/20/23 $190.00 $86.4K 798 194
WDAY CALL TRADE BEARISH 01/19/24 $210.00 $51.0K 73 40
WDAY PUT TRADE BEARISH 09/16/22 $150.00 $46.4K 2.4K 42

Where Is Workday Standing Right Now?

  • With a volume of 849,737, the price of WDAY is down -3.23% at $154.87.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 77 days.

What The Experts Say On Workday:

  • Barclays has decided to maintain their Overweight rating on Workday, which currently sits at a price target of $208.
  • Mizuho has decided to maintain their Buy rating on Workday, which currently sits at a price target of $200.
  • Canaccord Genuity has decided to maintain their Buy rating on Workday, which currently sits at a price target of $200.
  • UBS has decided to maintain their Neutral rating on Workday, which currently sits at a price target of $170.
  • Deutsche Bank has decided to maintain their Buy rating on Workday, which currently sits at a price target of $225.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Workday, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets