Bullish Options Activity in Seagate, Western Digital Signals Trader Optimism

Key Facts

In a sign of shifting trader sentiment in the storage sector, options market data reveals a clear bullish tilt toward Seagate (STX) and Western Digital (WDC), according to a report by CNBC. The activity reflects expectations of price increases in both stocks, driven by a notable rise in call option volume relative to puts.

The optimism comes as storage companies continue to benefit from growing demand for data centers and AI solutions. At the close on June 26, STX was trading at approximately $899.90, while WDC closed at $586.45, per market data. Traders appear to see a potential rebound from current levels, supported by steady cloud storage demand.

On the trading front, attention is focused on whether the stocks can break through near-term resistance. STX recently hit a high of $996.48, while WDC reached $647.42. With no major sector-specific catalysts on the near-term economic calendar, the focus may shift to upcoming earnings reports and demand indicators for storage solutions.