Market News

September 27, 2013  Fri 12:20 PM CT

A large trade sees limited downside potential for Workday as the business-technology company trades near all-time highs.

A big print of 4,273 October 80 puts was sold for $1.15, according to optionMONSTER systems. The volume was more than 10 times the previous open interest, so this is clearly a new position.

The put seller sees WDAY holding above $80 in the next three weeks. The trader is taking the risk of having to buy shares if they fall below that level. (See our Education section)

WDAY, a provider of enterprise cloud-based applications, is off fractionally at $82.30 in afternoon trading but still not far from its record-high close of $83.13 reached last week.

Almost 6,200 WDAY options have changed hands so far, compared to the daily average of 756 over the last month.
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