Workday's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Financial analysis reveals a bearish sentiment among big money traders on Workday (NASDAQ:WDAY), with 68% of options trades showing bearish tendencies. The analysis of unusual trades found 10 puts and 9 calls, indicating expectations of price movements between $210.0 and $350.0. Workday, a cloud software company, is currently trading at $294.46, with analysts giving mixed ratings and target prices ranging from $293 to $350.
February 28, 2024 | 4:45 pm
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Workday shows a bearish sentiment among traders with a significant portion of options trades indicating expectations of price movements between $210 and $350. Mixed analyst ratings with target prices ranging from $293 to $350.
The bearish sentiment among big money traders, indicated by the predominance of puts over calls and the expectation of price movements between $210 and $350, suggests a potential short-term downside for Workday's stock. However, the mixed analyst ratings and the current trading price close to the middle of the expected price range add complexity to the outlook, justifying a bearish score with high relevance and importance but moderate confidence.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100