Looking At Workday's Recent Unusual Options Activity

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 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $1,012,310 and 4, calls, for a total amount of $290,620.

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 $175.0 to $270.0 for Workday over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Workday's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Workday's whale activity within a strike price range from $175.0 to $270.0 in 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 TRADE BEARISH 03/15/24 $220.00 $680.0K 349 508
WDAY CALL TRADE BEARISH 01/16/26 $190.00 $167.8K 0 20
WDAY PUT SWEEP BEARISH 09/29/23 $232.50 $76.9K 33 289
WDAY PUT SWEEP BULLISH 09/29/23 $230.00 $76.2K 210 429
WDAY PUT SWEEP BEARISH 10/20/23 $230.00 $66.4K 903 162

Where Is Workday Standing Right Now?

  • With a volume of 1,174,968, the price of WDAY is down -3.07% at $230.51.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 68 days.

What The Experts Say On Workday:

  • DA Davidson has decided to maintain their Buy rating on Workday, which currently sits at a price target of $280.
  • Loop Capital has decided to maintain their Hold rating on Workday, which currently sits at a price target of $235.
  • Citigroup has decided to maintain their Neutral rating on Workday, which currently sits at a price target of $247.
  • Guggenheim has decided to maintain their Sell rating on Workday, which currently sits at a price target of $169.
  • Needham has decided to maintain their Buy rating on Workday, which currently sits at a price target of $250.

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.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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