A whale with a lot of money to spend has taken a noticeably bearish stance on Wayfair.
Looking at options history for Wayfair W we detected 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 71% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $4,094,838 and 4, calls, for a total amount of $123,770.
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 $17.5 to $50.0 for Wayfair over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Wayfair options trades today is 1622.62 with a total volume of 41,233.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wayfair's big money trades within a strike price range of $17.5 to $50.0 over the last 30 days.
Wayfair 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 |
|---|---|---|---|---|---|---|---|---|
| W | PUT | TRADE | BEARISH | 01/19/24 | $40.00 | $1.3M | 10.7K | 8.6K |
| W | PUT | SWEEP | BEARISH | 01/19/24 | $40.00 | $1.0M | 10.7K | 2.7K |
| W | PUT | TRADE | BULLISH | 01/19/24 | $40.00 | $688.2K | 10.7K | 4.4K |
| W | PUT | SWEEP | BULLISH | 01/19/24 | $40.00 | $434.2K | 10.7K | 6.3K |
| W | PUT | SWEEP | BEARISH | 01/19/24 | $40.00 | $352.8K | 10.7K | 9.2K |
Where Is Wayfair Standing Right Now?
- With a volume of 1,298,439, the price of W is down -0.87% at $39.98.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 6 days.
What The Experts Say On Wayfair:
- Loop Capital upgraded its action to Hold with a price target of $50
- Wedbush has decided to maintain their Outperform rating on Wayfair, which currently sits at a price target of $80.
- Stifel downgraded its action to Hold with a price target of $51
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 Wayfair, Benzinga Pro gives you real-time options trades alerts.
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