WDAYWorkday, Inc. Class A Common Stock
Options Analysis Report•SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Market Cap $29.7B|NASDAQ
● 2026-05-15$118.75
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -56.8%YTD -42.3%7D -7.1%
Options Vol
8,294
30D
Implied Move
±22.9%
IV Rank
69%
WDAY Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
2.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 97.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.26x — IV premium over HV
Sector Relative≤50%
Sector percentile 89% — above sector median
Term Structure
<1.1xFront/Back 1.58x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 75.6% — normal range
Spread-Adjusted Value
<80%Effective IV 102.9% (ATM 75.6% + spread 13.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 19.31% (spread 13.65% + slippage 5.66%) — high friction
Vega Efficiency
≥5.0Vega efficiency 25.87 (vega 35.309 / spread 13.65%) — efficient
Sentiment
Bullish or bearish?
5.4
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -20%, Raw: -23%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -20% (bearish) — Raw: -23%
OI Skew Magnitude
≥15%|OI skew| 15.0% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +15.9%, OI skew +15.0% — aligned
Conviction Quality
≥2/3 conditions0-DTE 42%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -60%, ATM: +8%, OTM: -32% — strong bearish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 64% — bearish vs sector
Activity
Unusual activity?
3.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 5.0% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +7.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 34% — below sector avg
Trade Quality
≥30%Large trade volume 4% — mostly retail
Execution Urgency
≥60%Aggressive execution 33% — patient
Flow Conviction
≥30Conviction -20 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 13.7% — wide
Adequate OI
≥10,000OI 167,155 — deep
Active Volume
≥500Volume 8,294/day — active
Reasonable Cost
≤$0.50$0.68 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 90% — much wider than sector
Order Book Depth
≥100 contractsDepth 142.1 contracts (bid:63.3 ask:78.8) — adequate
Execution Quality
<1.0%Avg slippage 5.66% — poor
Timing
Is now a good time?
7.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +57.5% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 98% — seller opportunity
Event Detection
≥10pts kinkIV kink 30.1pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 624.93 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -20% @ 60% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 34 (ITM 20% + inst 4%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.4
bullishIV expensive, mixed flow
Long Puts4.2
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put6.0
bullishIV rich premium, mixed flow
Covered Call5.7
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.