Deep-pocketed investors have adopted a bullish approach towards Workday WDAY, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WDAY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Workday. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 5 are puts, totaling $943,840, and 4 are calls, amounting to $126,108.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $140.0 and $290.0 for Workday, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Workday stands at 492.0, with a total volume reaching 854.00. 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 $140.0 to $290.0, throughout the last 30 days.
Workday Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDAY | PUT | TRADE | BEARISH | 01/17/25 | $220.00 | $575.0K | 845 | 500 |
| WDAY | PUT | TRADE | BULLISH | 01/17/25 | $220.00 | $230.0K | 845 | 200 |
| WDAY | PUT | SWEEP | BULLISH | 01/17/25 | $190.00 | $60.1K | 457 | 100 |
| WDAY | PUT | TRADE | BULLISH | 01/05/24 | $280.00 | $47.5K | 7 | 1 |
| WDAY | CALL | SWEEP | BULLISH | 03/15/24 | $290.00 | $37.4K | 304 | 7 |
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.
Workday's Current Market Status
- Currently trading with a volume of 1,415,799, the WDAY's price is up by 0.55%, now at $272.27.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 73 days.
Professional Analyst Ratings for Workday
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $276.8.
- An analyst from Mizuho has decided to maintain their Buy rating on Workday, which currently sits at a price target of $290.
- An analyst from Stifel persists with their Hold rating on Workday, maintaining a target price of $250.
- Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Workday, targeting a price of $300.
- An analyst from Barclays persists with their Overweight rating on Workday, maintaining a target price of $274.
- Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Workday, targeting a price of $270.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Workday with Benzinga Pro for real-time alerts.
© 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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