Whales with a lot of money to spend have taken a noticeably bullish stance on ON Semiconductor.
Looking at options history for ON Semiconductor ON we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $304,529 and 4, calls, for a total amount of $157,810.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $64.0 and $130.0 for ON Semiconductor, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of ON Semiconductor stands at 545.0, with a total volume reaching 1,853.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in ON Semiconductor, situated within the strike price corridor from $64.0 to $130.0, throughout the last 30 days.
ON Semiconductor Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ON | PUT | TRADE | BULLISH | 01/17/25 | $70.00 | $126.3K | 1.5K | 150 |
| ON | PUT | SWEEP | BULLISH | 06/21/24 | $65.00 | $81.2K | 605 | 250 |
| ON | PUT | SWEEP | BEARISH | 01/26/24 | $75.00 | $69.4K | 204 | 803 |
| ON | CALL | SWEEP | BULLISH | 01/26/24 | $76.00 | $58.8K | 447 | 349 |
| ON | CALL | SWEEP | BEARISH | 02/16/24 | $76.00 | $37.1K | 40 | 134 |
About ON Semiconductor
Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and the largest supplier of image sensors to the automotive market. While the firm used to be highly vertically integrated, it now pursues a hybrid manufacturing strategy for flexible capacity. Onsemi is pivoting to focus on emerging applications like electric vehicles, autonomous vehicles, industrial automation, and renewable energy.
Following our analysis of the options activities associated with ON Semiconductor, we pivot to a closer look at the company's own performance.
Current Position of ON Semiconductor
- With a trading volume of 3,557,351, the price of ON is up by 0.89%, reaching $75.86.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 13 days from now.
What The Experts Say On ON Semiconductor
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $85.0.
- Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for ON Semiconductor, targeting a price of $85.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for ON Semiconductor, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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