Shares of Workday (WDAY) are down 7%, or $6.74, to $85.75 in extended trading despite a better-than-expected earnings report. The company lost $0.02 per share on revenue of $251 million. Analysts were looking for a loss of $0.08 per share on revenue of $245 million.
The June 85 puts (WDAY150619P00085000) could be active on Wednesday after closing today's session at $1.30. The major moving averages are clustered between $86-$88 and these levels will likely be violated.