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Check Out What Whales Are Doing With Wayfair

Someone with a lot of money to spend has taken a bearish stance on Wayfair (NYSE:W). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Benzinga · 04/29/2022 15:40

Someone with a lot of money to spend has taken a bearish stance on Wayfair (NYSE:W).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with W, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 33 uncommon options trades for Wayfair.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 69%, bearish.

Out of all of the special options we uncovered, 30 are puts, for a total amount of $2,854,512, and 3 are calls, for a total amount of $329,016.

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 $55.0 to $200.0 for Wayfair over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Wayfair'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 Wayfair's whale activity within a strike price range from $55.0 to $200.0 in the last 30 days.

Wayfair Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
W PUT SWEEP BEARISH 01/20/23 $70.00 $425.0K 468 362
W PUT SWEEP BEARISH 05/06/22 $80.00 $351.8K 105 456
W PUT SWEEP BEARISH 01/20/23 $75.00 $279.0K 2.2K 150
W PUT SWEEP BEARISH 01/20/23 $65.00 $172.6K 426 126
W CALL SWEEP BULLISH 05/13/22 $65.00 $159.8K 871 0

Where Is Wayfair Standing Right Now?

  • With a volume of 3,175,229, the price of W is down -7.6% at $77.05.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 6 days.

What The Experts Say On Wayfair:

  • Barclays downgraded its action to Underweight with a price target of $103
  • Wells Fargo downgraded its action to Underweight with a price target of $100
  • Morgan Stanley has decided to maintain their Underweight rating on Wayfair, which currently sits at a price target of $90.
  • JP Morgan has decided to maintain their Underweight rating on Wayfair, which currently sits at a price target of $70.
  • Needham has decided to maintain their Buy rating on Wayfair, which currently sits at a price target of $150.

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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.