Financial giants have made a conspicuous bearish move on Workday. Our analysis of options history for Workday WDAY revealed 15 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $1,345,342, and 9 were calls, valued at $1,272,459.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $195.0 and $320.0 for Workday, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Workday stands at 322.0, with a total volume reaching 1,308.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Workday, situated within the strike price corridor from $195.0 to $320.0, throughout the last 30 days.
Workday 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDAY | CALL | SWEEP | BEARISH | 01/17/25 | $310.00 | $715.3K | 129 | 381 |
| WDAY | PUT | SWEEP | BULLISH | 01/17/25 | $280.00 | $545.3K | 22 | 364 |
| WDAY | PUT | SWEEP | BULLISH | 01/17/25 | $280.00 | $538.0K | 22 | 216 |
| WDAY | CALL | TRADE | NEUTRAL | 12/15/23 | $195.00 | $174.1K | 62 | 24 |
| WDAY | CALL | SWEEP | BEARISH | 01/17/25 | $310.00 | $164.4K | 129 | 44 |
About Workday
Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Founded in 2005, Workday now employs over 12,000 employees.
Following our analysis of the options activities associated with Workday, we pivot to a closer look at the company's own performance.
Where Is Workday Standing Right Now?
- With a trading volume of 2,204,929, the price of WDAY is down by -2.34%, reaching $266.54.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 84 days from now.
Professional Analyst Ratings for Workday
5 market experts have recently issued ratings for this stock, with a consensus target price of $289.0.
- An analyst from Oppenheimer has decided to maintain their Outperform rating on Workday, which currently sits at a price target of $275.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Workday, targeting a price of $270.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Workday with a target price of $300.
- An analyst from Wells Fargo persists with their Overweight rating on Workday, maintaining a target price of $300.
- Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Workday, targeting a price of $300.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Workday options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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