Whales Take a Bearish Stance on Workday
Whales, or investors with significant amounts of money to spend, have recently taken a noticeably bearish stance on Workday. Looking at the options history for Workday (WDAY), it has been observed that 25% of investors opened trades with bullish expectations, while 75% took a bearish stance.
Analyzing the specific trades, there have been 3 puts with a total amount of $101,265 and 5 calls with a total amount of $519,805. This indicates that the whales are betting on the stock’s price to decline rather than rise.
Price Target
Based on the trading activity, it appears that significant investors are aiming for a price territory ranging from $200.0 to $410.0 for Workday over the recent three months. This suggests that they expect the stock to fall within this range.
Volume & Open Interest Development
Analyzing the volume and open interest is an insightful way to conduct due diligence on a stock. This data helps track the liquidity and interest for Workday’s options for a given strike price. Examining the volume and open interest of calls and puts for Workday’s whale activity within a strike price range from $200.0 to $410.0 in the last 30 days provides valuable information.
Significant Options Trades Detected
Several significant options trades have been detected for Workday. These trades include both calls and puts with various sentiments, trade types, expiration dates, strike prices, total trade prices, open interest, and volume. These trades indicate the whales’ strategies and expectations for the stock.
About Workday
Workday is a software company that offers human capital management (HCM), financial management, and business planning solutions. Headquartered in Pleasanton, California, Workday is known for being a cloud-only software provider. Founded in 2005, the company now employs over 12,000 people.
Current Position of Workday
Currently, Workday has a trading volume of 869,894, and the stock price is up by 0.5%, reaching $306.63. The current RSI values suggest that the stock may be approaching overbought conditions. The next earnings report for Workday is scheduled for 10 days from now.
Expert Opinions on Workday
Over the past month, two industry analysts have shared their insights on Workday, proposing an average target price of $326.5. An analyst from BMO Capital maintains an Outperform rating on Workday with a target price of $338, while an analyst from JMP Securities maintains a Market Outperform rating with a target price of $315.
Options Trading
Options trading carries higher risk compared to trading stocks but offers higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following multiple indicators, and closely monitoring the markets.
For those interested in staying updated on the latest options trades for Workday, Benzinga Pro provides real-time options trade alerts.
In conclusion, whales with a lot of money to spend have taken a bearish stance on Workday, expecting the stock’s price to decline. The specific trades and volume data provide insights into their strategies and expectations. It is essential for investors to consider expert opinions, current market position, and options trading risks when making investment decisions.
