WDAYWorkday, Inc. Class A Common Stock
Options Analysis Report•SERVICES-COMPUTER PROCESSING & DATA PREPARATION
Market Cap $31.8B|NASDAQ
● 2026-04-17$123.83
BULLISH
Analysis: 2026-04-16 EOD data
1Y -42.2%YTD -39.8%7D +10.1%
Options Vol
8,121
30D
Implied Move
±16.7%
IV Rank
46%
WDAY Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 92.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.10x — IV premium over HV
Sector Relative≤50%
Sector percentile 80% — above sector median
Term Structure
<1.1xFront/Back 1.01x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 59.7% — normal range
Spread-Adjusted Value
<80%Effective IV 82.7% (ATM 59.7% + spread 11.5% + bias) — expensive
Execution Efficiency
<3.0%Total drag 17.09% (spread 11.51% + slippage 5.58%) — high friction
Vega Efficiency
≥5.0Vega efficiency 35.82 (vega 41.227 / spread 11.51%) — efficient
Sentiment
Bullish or bearish?
6.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +17%, Raw: +11%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +17% (bullish) — Raw: +11%
OI Skew Magnitude
≥15%|OI skew| 22.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +21.6%, OI skew +22.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 36%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +56%, ATM: +10%, OTM: +4% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 57% — bearish vs sector
Activity
Unusual activity?
3.5
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 +8.4% (5d) — building
Sector Relative≥60%
Sector activity percentile 34% — below sector avg
Trade Quality
≥30%Large trade volume 20% — mixed
Execution Urgency
≥60%Aggressive execution 38% — patient
Flow Conviction
≥30Conviction +17 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 11.5% — wide
Adequate OI
≥10,000OI 164,212 — deep
Active Volume
≥500Volume 8,121/day — active
Reasonable Cost
≤$0.50$0.58 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 80% — much wider than sector
Order Book Depth
≥100 contractsDepth 185.9 contracts (bid:93.5 ask:92.4) — adequate
Execution Quality
<1.0%Avg slippage 5.58% — poor
Timing
Is now a good time?
7.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +1.2% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 93% — seller opportunity
Event Detection
≥10pts kinkIV kink -1.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 851.80 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +17% @ 59% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 50 (ITM 20% + inst 20%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV fair, bullish flow
Long Puts4.4
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.8
bullishIV fair, bullish flow
Covered Call4.7
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.