Options traders are exceptionally call-biased, but the optimism is moving into a range where downside is typical and WDAY's price stalls out. This is per the stock's 10-day call/put volume ratio of 2.25 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). There's also room for downgrades amongst the brokerage bunch, as 30 of the 37 in coverage still recommend a "buy" or better. Options look like a good route to go, as WDAY has frequently exceeded option traders' volatility expectations over the past year, according to the equity’s Schaeffer's Volatility Scorecard (SVS) of 71 out of 100. Our recommended put option has a leverage ratio of -4.65, and will double in value on a 17.88% drop in the underlying shares.
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This stock is paying its highest dividend in 15 years . . . 📈 (c/o Investors Alley)
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