Insiders with ample resources have taken a notably pessimistic position on Workday.
Reviewing the options history for Workday WDAY reveals 8 trades.
Analyses of the individual trades indicate that 25% of investors initiated trades with bullish expectations while 75% leaned bearish.
These trades encompass 3 puts, totaling $101,265, and 5 calls, totaling $519,805.
Exploring the Price Target
Judging by the trading activity, it seems that major investors are targeting a price range between $200.0 and $410.0 for Workday over the past three months.
Volume & Open Interest Development
Analysing the volume and open interest is an insightful method for conducting due diligence on a stock.
This data assists in tracking the liquidity and interest for Workday’s options at a given strike price.
The following illustrates the evolution of the volume and open interest of calls and puts, respectively, for all of Workday’s major activity within a strike price range from $200.0 to $410.0 in the last 30 days.
Workday Option Volume And Open Interest Over Last 30 Days
Spotting Significant Options Trades
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WDAY | CALL | TRADE | BEARISH | 03/15/24 | $350.00 | $283.5K | 124 | 900 |
| WDAY | CALL | TRADE | BEARISH | 06/21/24 | $200.00 | $99.7K | 147 | 9 |
| WDAY | CALL | SWEEP | BULLISH | 09/20/24 | $300.00 | $82.1K | 138 | 27 |
| WDAY | PUT | SWEEP | BEARISH | 04/19/24 | $320.00 | $45.1K | 0 | 34 |
| WDAY | PUT | TRADE | BULLISH | 06/21/24 | $280.00 | $29.5K | 437 | 2 |
About Workday
Workday is a software company that provides human capital management, financial management, and business planning solutions. Renowned for being a cloud-only software provider, Workday is headquartered in Pleasanton, California. Established in 2005, Workday currently employs over 12,000 individuals.
Having analyzed the options trading patterns for Workday, our focus now shifts to the company. This transition enables us to delve into its current market position and performance.
Current Position of Workday
- With a trading volume of 869,894, the price of WDAY is up by 0.5%, reaching $306.63.
- Current RSI values indicate that the stock may be nearing overbought conditions.
- The next earnings report is scheduled for 10 days from now.
Expert Opinions on Workday
In the last month, 2 industry analysts have shared their perspectives on this stock, presenting an average target price of $326.5.
- An analyst from BMO Capital maintains their Outperform rating on Workday, holding a target price of $338.
- An analyst from JMP Securities holds onto their Market Outperform rating on Workday, maintaining a target price of $315.
Options entail greater risk compared to simply trading the stock, but they offer higher profit potential. Seasoned options traders mitigate this risk by staying informed, scaling into and out of trades, following multiple indicators, and closely monitoring the markets.