Deep-pocketed investors have adopted a bearish 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 22% leaning bullish and 55% bearish. Among these notable options, 3 are puts, totaling $163,725, and 6 are calls, amounting to $494,496.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $300.0 for Workday over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $200.0 to $300.0 in the last 30 days.
Workday 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WDAY | CALL | TRADE | BEARISH | 01/16/26 | $25.6 | $25.0 | $25.0 | $260.00 | $250.0K | 23 | 0 |
| WDAY | PUT | TRADE | BULLISH | 09/20/24 | $22.0 | $20.6 | $20.7 | $230.00 | $82.8K | 543 | 12 |
| WDAY | CALL | SWEEP | BEARISH | 03/21/25 | $31.3 | $31.0 | $31.0 | $210.00 | $65.1K | 58 | 0 |
| WDAY | CALL | TRADE | BEARISH | 01/16/26 | $52.0 | $51.7 | $51.7 | $200.00 | $51.7K | 46 | 1 |
| WDAY | PUT | TRADE | NEUTRAL | 01/17/25 | $20.6 | $20.1 | $20.37 | $220.00 | $50.9K | 1.0K | 0 |
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.
Following our analysis of the options activities associated with Workday, we pivot to a closer look at the company's own performance.
Current Position of Workday
- With a trading volume of 1,098,570, the price of WDAY is up by 0.59%, reaching $213.99.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 72 days from now.
Professional Analyst Ratings for Workday
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $285.0.
- An analyst from Oppenheimer persists with their Outperform rating on Workday, maintaining a target price of $320.
- An analyst from Citigroup has decided to maintain their Neutral rating on Workday, which currently sits at a price target of $255.
- An analyst from RBC Capital persists with their Outperform rating on Workday, maintaining a target price of $300.
- An analyst from JP Morgan persists with their Overweight rating on Workday, maintaining a target price of $285.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Workday with a target price of $265.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Workday options trades with real-time alerts from Benzinga Pro.