Understanding the Recent Options Trading Activity for Workday (NASDAQ: WDAY)

Investors with substantial capital have recently adopted a bearish outlook on Workday (WDAY). This shift in sentiment is important for retail traders to recognize as it may indicate upcoming changes in the company's market trajectory.

Today, we observed an influx of changes in options trades associated with Workday. These trades, part of publicly available options history tracked, suggest that significant players, whether institutions or wealthy individuals, are responding to market signals.

Our analysis shows that on a given day, Benzinga's options scanner detected 38 unusual options trades for Workday. This volume suggests notable activity and diverges from typical trading patterns.

The general attitude among these high-value traders is revealing, with 39% expressing bullish views and 47% taking a bearish stance. This indicates a more bearish sentiment overall.

Options Overview

Among the trades identified, 13 were puts amounting to $790,520, while 25 were calls totaling $1,604,085. This disparity points to a significant interest in positioning for a potential downturn.

Predicted Price Range

Market scrutiny indicates that major players are focusing their expectations within a price range of $200.00 to $330.00 for Workday over the past three months. Analyzing this data can help traders anticipate where the stock might be headed.

Volume & Open Interest Trends

Examining volume and open interest data is crucial for assessing the liquidity and interest in Workday's options. In the last 30 days, we can observe how this activity has evolved, signifying the interests and stakes associated with selective strike prices.

Recent Options Activity Analysis

Symbol	PUT/CALL	Trade Type	Sentiment	Expiration Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
WDAY	CALL	SWEEP	BEARISH	12/13/24	$14.5	$13.0	$13.0	$280.00	$534.6K	3.3K	416
WDAY	PUT	TRADE	BULLISH	01/24/25	$4.0	$2.15	$2.25	$260.00	$299.2K	0	1.3K
WDAY	CALL	SWEEP	BEARISH	12/13/24	$4.6	$4.2	$4.25	$280.00	$128.4K	3.3K	1.8K
WDAY	CALL	SWEEP	BEARISH	12/20/24	$15.6	$15.4	$15.49	$270.00	$86.4K	1.9K	358
WDAY	PUT	SWEEP	BULLISH	06/20/25	$28.3	$27.1	$27.12	$290.00	$81.3K	20	30

About Workday

Founded in 2005 and based in Pleasanton, California, Workday provides software solutions focused on human capital management (HCM), financial management, and business planning. As a cloud-only service provider, its offerings are essential for many businesses aiming for digital transformation.

Current Market Conditions for Workday

• Workday's shares are currently priced at $281.52 after a 5.67% increase in trading volume of 8,979,718.
• The market shows signs that WDAY stock may be nearing overbought conditions based on current RSI values.
• Investors can expect the next earnings report to be released in 77 days, which could influence stock movements.

Insights from Analysts on Workday

In recent assessments, five analysts have weighed in on Workday, estimating an average target price of $280.4. Notably:

• An analyst from Loop Capital maintains a Hold rating with a target at $242.
• Piper Sandler has downgraded its rating to Neutral with an updated target of $270.
• Barclays keeps an Overweight rating with a target of $305.
• B of A Securities reiterates a Buy rating, targeting $285.
• Needham reduced its rating to Buy but set a target of $300.

Trading options can involve considerable risks and rewards. Savvy traders manage these by staying informed, adjusting strategies, monitoring various market signals, and keeping an eye on developments around Workday's options trades.

Investors, Options, Market, Workday, Trading