What the Options Market Tells Us About Wayfair
Portfolio Pulse from Benzinga Insights
Benzinga's options scanner revealed significant activity in Wayfair's (NYSE:W) options market, indicating a mixed sentiment among big-money investors with 62% bullish and 37% bearish. The analysis of options trades for Wayfair showed a total of 8 uncommon trades, with a predicted price range for Wayfair's stock between $35.0 to $130.0 over the last 3 months. The current market standing of Wayfair shows a trading volume of 5,194,133, with the stock price down by -2.85%, reaching $52.5. Analysts have given mixed reviews, with an average price target of $76.2, but with some downgrades in ratings.
February 23, 2024 | 8:31 pm
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Significant options market activity and mixed analyst ratings indicate a volatile short-term outlook for Wayfair. The stock is currently down, with a wide predicted price range suggesting uncertainty.
The mixed sentiment in the options market, combined with recent downgrades by analysts, suggests uncertainty around Wayfair's short-term price movement. The significant options activity, especially the unusual volume and the wide predicted price range, further underscores this volatility. However, the stock's current performance and the mixed analyst ratings make the short-term outlook challenging to predict with high confidence.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100