Financial giants have made a conspicuous bearish move on Western Digital. Our analysis of options history for Western Digital WDC revealed 17 unusual trades.
Delving into the details, we found 41% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $366,037, and 11 were calls, valued at $842,450.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $95.0 for Western Digital over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Western Digital stands at 2753.3, with a total volume reaching 7,196.00. 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 $45.0 to $95.0, throughout the last 30 days.
Western Digital Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDC | CALL | SWEEP | BEARISH | 05/17/24 | $3.8 | $3.7 | $3.7 | $70.00 | $240.1K | 7.3K | 663 |
| WDC | CALL | TRADE | BULLISH | 04/26/24 | $9.95 | $9.15 | $9.95 | $60.00 | $165.1K | 171 | 0 |
| WDC | PUT | SWEEP | BEARISH | 01/16/26 | $30.05 | $27.1 | $29.0 | $95.00 | $116.0K | 477 | 50 |
| WDC | PUT | SWEEP | BEARISH | 01/16/26 | $28.95 | $28.75 | $28.8 | $95.00 | $86.4K | 477 | 90 |
| WDC | CALL | SWEEP | BULLISH | 04/19/24 | $0.5 | $0.39 | $0.4 | $75.00 | $75.0K | 13.8K | 4.1K |
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.
After a thorough review of the options trading surrounding Western Digital, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Western Digital
- With a trading volume of 3,488,187, the price of WDC is down by -1.98%, reaching $69.45.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 34 days from now.
Professional Analyst Ratings for Western Digital
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $70.0.
- Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Western Digital, targeting a price of $65.
- In a cautious move, an analyst from Evercore ISI Group downgraded its rating to Outperform, setting a price target of $80.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $70.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Neutral rating for Western Digital, targeting a price of $65.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Western Digital, Benzinga Pro gives you real-time options trades 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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