Financial giants have made a conspicuous bearish move on Western Digital. Our analysis of options history for Western Digital WDC revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $105,200, and 5 were calls, valued at $245,693.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $62.5 to $85.0 for Western Digital 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 Western Digital'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 Western Digital's whale trades within a strike price range from $62.5 to $85.0 in the last 30 days.
Western Digital Call and Put Volume: 30-Day Overview
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 | 02/21/25 | $1.89 | $1.73 | $1.75 | $85.00 | $73.8K | 5.0K | 536 |
| WDC | CALL | SWEEP | BEARISH | 10/04/24 | $3.2 | $2.01 | $2.52 | $66.00 | $52.4K | 358 | 239 |
| WDC | CALL | TRADE | BEARISH | 11/15/24 | $1.75 | $1.74 | $1.74 | $75.00 | $44.1K | 622 | 301 |
| WDC | CALL | SWEEP | BULLISH | 01/17/25 | $9.1 | $8.9 | $9.1 | $62.50 | $40.0K | 770 | 44 |
| WDC | PUT | TRADE | BEARISH | 10/04/24 | $1.9 | $1.79 | $1.9 | $67.00 | $38.0K | 2 | 200 |
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.
Following our analysis of the options activities associated with Western Digital, we pivot to a closer look at the company's own performance.
Current Position of Western Digital
- Currently trading with a volume of 1,469,072, the WDC's price is down by -0.34%, now at $66.52.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 35 days.
What The Experts Say On Western Digital
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $81.66666666666667.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Citigroup persists with their Buy rating on Western Digital, maintaining a target price of $85. * An analyst from TD Cowen persists with their Buy rating on Western Digital, maintaining a target price of $80. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $80.
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 Western Digital options trades with real-time alerts from Benzinga Pro.
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