Financial giants have made a conspicuous bearish move on Western Digital. Our analysis of options history for Western Digital WDC revealed 10 unusual trades.
Delving into the details, we found 20% of traders were bullish, while 80% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $158,462, and 8 were calls, valued at $592,017.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $27.5 and $55.0 for Western Digital, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Western Digital stands at 658.33, with a total volume reaching 2,806.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Western Digital, situated within the strike price corridor from $27.5 to $55.0, throughout the last 30 days.
Western Digital 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDC | CALL | TRADE | BEARISH | 04/19/24 | $50.00 | $171.0K | 686 | 509 |
| WDC | PUT | TRADE | BEARISH | 01/26/24 | $50.00 | $129.0K | 368 | 1.5K |
| WDC | CALL | SWEEP | BEARISH | 04/19/24 | $50.00 | $118.5K | 686 | 51 |
| WDC | CALL | SWEEP | BEARISH | 06/21/24 | $50.00 | $112.8K | 2.1K | 290 |
| WDC | CALL | SWEEP | BEARISH | 07/19/24 | $50.00 | $71.2K | 26 | 95 |
About Western Digital
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
Having examined the options trading patterns of Western Digital, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Western Digital
- Trading volume stands at 3,799,721, with WDC's price down by -0.15%, positioned at $52.15.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 8 days.
Professional Analyst Ratings for Western Digital
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $65.0.
- Showing optimism, an analyst from Barclays upgrades its rating to Overweight with a revised price target of $65.
- In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $65.
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 Western Digital 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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