AAL

Options Traders, Analysts Respond to Workday's Q2 Win

Piper Sandler lifted WDAY's price objective to $288 from $280

Digital Content Manager
Aug 25, 2023 at 10:50 AM
facebook X logo linkedin


Workday Inc (NASDAQ: WDAY) shared better-than-expected second-quarter earnings and revenue after yesterday's close, and raised its 2024 subscription revenue target after this quarter's 18.8% year-over-year jump to $1.62 billion. No fewer than 15 analysts hiked their price targets in response, including Piper Sandler to $288 from $280. At last glance, WDAY is up 2.3% at $229.94.

Options traders are chiming in on the results as well, with 3,959 calls and 3,790 traded so far, or nine times the volume that is typically seen at this point. Most popular is the weekly 8/25 215-strike put, with the 250-strike call in that same series trailing not too far behind, both of which expire at the close.

Short-term options traders have been much more bullish than usual. This is per Workday stock's Schaeffer's put/call open interest ratio (SOIR) of 0.70, which stands in the 13th percentile of annual readings.

The security has been consolidating above the $220 level after surging to an Aug. 1, one-year high of $240.18, with support from the 60-day moving average. Year-over-year, WDAY is up 38.5%.

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.