Options Bulls Blast Western Digital Stock After Company Update

Calls are running at four times what's typically seen

Deputy Editor
Jun 8, 2022 at 2:56 PM
facebook X logo linkedin

The shares of Western Digital Corp (NASDAQ:WDC) are reversing their morning gains, down 4.2% to trade at $57.78 at last glance, after news that the company is evaluating strategic alternatives as it looks to increase value for long-term shareholders. This comes about a month after activist investor Elliott Management pushed Western Digital to consider separating the itself into hard disk drive (HDD) and flash-memory units in the hopes of more profitable operations. 

In response, calls are taking off in the options pits, with 43,000 across the tape today -- four times the intraday average in terms of volume. The July 65 call accounts for the bulk of this activity, and is also the top open interest position. 

Earlier, the stock jumped as high as $63 before it was rejected by familiar pressure at that level. Several moving averages linger below as support, however, including the 140-day trendline. Year-to-date, WDC is down 10.8%.

wdc june 8


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI