Wayfair Options Trading: A Deep Dive into Market Sentiment

Financial giants have made a conspicuous bearish move on Wayfair. Our analysis of options history for Wayfair (NYSE:W) revealed 14 unusual trades.

Delving into the details, we found 28% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $395,390, and 7 were calls, valued at $258,799.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $75.0 for Wayfair, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Wayfair stands at 1743.62, with a total volume reaching 4,670.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wayfair, situated within the strike price corridor from $60.0 to $75.0, throughout the last 30 days.

Wayfair 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
W PUT SWEEP NEUTRAL 06/21/24 $12.05 $11.85 $11.94 $75.00 $144.6K 1.2K 257
W PUT SWEEP BEARISH 06/21/24 $7.95 $7.8 $7.89 $70.00 $95.6K 2.0K 205
W CALL SWEEP BULLISH 08/16/24 $5.95 $5.9 $5.9 $70.00 $53.3K 3.2K 144
W CALL TRADE BEARISH 06/21/24 $2.64 $2.63 $2.63 $68.00 $52.6K 3 448
W CALL TRADE BEARISH 06/21/24 $2.8 $2.66 $2.66 $68.00 $43.6K 3 196

About Wayfair

Wayfair engages in e-commerce in the United States (87% of 2023 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2023, the firm offered more than 30 million products from more than 20,000 suppliers under the brands Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold. Its offerings include furniture, everyday and seasonal decor, decorative accents, housewares, and other home goods. Wayfair was founded in 2002 and began trading publicly in 2014.

In light of the recent options history for Wayfair, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Wayfair Standing Right Now? Trading volume stands at 1,854,693, with W's price down by -5.01%, positioned at $63.75. RSI indicators show the stock to be may be approaching overbought. Earnings announcement expected in 72 days. What Analysts Are Saying About Wayfair

In the last month, 5 experts released ratings on this stock with an average target price of $70.0.

An analyst from BMO Capital persists with their Market Perform rating on Wayfair, maintaining a target price of $61. In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $70. An analyst from Piper Sandler downgraded its action to Overweight with a price target of $91. Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $70. Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Wayfair, targeting a price of $58.

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 Wayfair options trades with real-time alerts from Benzinga Pro.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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