Deep-pocketed investors have adopted a bullish approach towards Workday (NASDAQ: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 66% leaning bullish and 33% bearish. Among these notable options, 2 are puts, totaling $244,664, and 7 are calls, amounting to $284,340.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $220.0 to $282.5 for Workday over the recent three months.
Analyzing Volume & Open Interest
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 $220.0 to $282.5 in the last 30 days.
Workday Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDAY | PUT | SWEEP | BULLISH | 12/27/24 | $2.2 | $1.8 | $1.9 | $220.00 | $189.0K | 0 | 0 |
| WDAY | PUT | SWEEP | BULLISH | 12/20/24 | $1.75 | $1.7 | $1.7 | $220.00 | $55.6K | 587 | 275 |
| WDAY | CALL | TRADE | BULLISH | 12/20/24 | $10.3 | $9.9 | $10.2 | $280.00 | $50.9K | 751 | 101 |
| WDAY | CALL | TRADE | BEARISH | 12/20/24 | $9.4 | $9.1 | $9.1 | $280.00 | $45.5K | 751 | 51 |
| WDAY | CALL | TRADE | BULLISH | 12/20/24 | $8.0 | $7.7 | $7.9 | $282.50 | $42.6K | 1 | 54 |
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 18,000 employees.
After a thorough review of the options trading surrounding Workday, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Workday
- With a volume of 937,628, the price of WDAY is up 1.34% at $262.92.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 5 days.
What The Experts Say On Workday
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $305.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.* Reflecting concerns, an analyst from Scotiabank lowers its rating to Sector Outperform with a new price target of $340.* An analyst from Loop Capital persists with their Hold rating on Workday, maintaining a target price of $270.
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