WDAYWorkday, Inc. Class A Common Stock
WDAY Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
WDAY Gamma Walls
WDAY Hedge Radar
Fragility reads low; protection is priced cheap. Neither axis is a forecast — this is where WDAY sits on protection cost vs. fragility today.
Protection is priced in the cheap band (3.31) — options are pricing vol 41% below what the stock has actually been realizing, and the move being priced is 1.63x this name's own median 19-trading-day move, measured against this name's own rolling 19-trading-day realized moves (485 overlapping windows). Fragility reads resilient (2.9): it is trading 8% above its hedge wall on a wall graded HIGH for reliability, and its realized-vol regime is stable.
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 85.6% — elevated vs history
IV/HV 0.59x — IV ≤ HV
Sector percentile 47% — below sector median
Front/Back 1.13x — backwardation
Put/Call IV 1.16x — elevated
ATM IV 43.0% — normal range
Effective IV 76.4% (ATM 43.0% + spread 16.7% + bias) — fair
Total drag 26.68% (spread 16.69% + slippage 9.99%) — high friction
Vega efficiency 9.42 (vega 15.714 / spread 16.69%) — efficient
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: -3% (neutral) — Raw: -0%
|OI skew| 3.8% — balanced
Vol skew +42.2%, OI skew +3.8% — aligned
0-DTE 0%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -1%, ATM: -9%, OTM: +10% — neutral (ITM/ATM aligned)
Sector P/C percentile 22% — very bullish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 1.8x avg — elevated
Vol/OI 12.4% — normal turnover
2 day(s) elevated — sustained
OI change +19.7% (5d) — building
Sector activity percentile 76% — active vs sector
Large trade volume 14% — mostly retail
Aggressive execution 22% — patient
Conviction -3 (bearish) — mixed
Liquidity
Can I trade efficiently?
Evaluates
Spread 16.7% — wide
OI 240,387 — deep
Volume 29,725/day — active
$0.83 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 48% — neutral vs sector
Depth 37.400000000000006 contracts (bid:20.8 ask:16.6) — thin
Avg slippage 9.99% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope +12.9% — backwardation
IV percentile 86% — seller opportunity
IV kink 3.1pts — no clear event
θ/ν ratio 56.04 — favors income trades
4 liquid expirations — flexible
safe window: No events detected
Spread ratio 1.00x — stable
Flow -3% @ 52% consistency — unclear
Score 44 (ITM 20% + inst 14%) — moderate institutional
Directional Strategy Fit
For educational purposes only. Not investment advice.
The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.