Deep-pocketed investors have adopted a bearish approach towards Adobe ADBE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ADBE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Adobe. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 63% bearish. Among these notable options, 2 are puts, totaling $78,582, and 9 are calls, amounting to $1,511,185.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $510.0 and $730.0 for Adobe, spanning the last three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Adobe's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Adobe's significant trades, within a strike price range of $510.0 to $730.0, over the past month.
Adobe Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | TRADE | BULLISH | 01/16/26 | $630.00 | $989.3K | 423 | 74 |
| ADBE | CALL | TRADE | BEARISH | 01/16/26 | $730.00 | $160.1K | 514 | 0 |
| ADBE | CALL | TRADE | NEUTRAL | 04/19/24 | $615.00 | $83.4K | 246 | 20 |
| ADBE | CALL | SWEEP | BEARISH | 05/17/24 | $645.00 | $83.1K | 56 | 0 |
| ADBE | CALL | TRADE | BEARISH | 02/02/24 | $605.00 | $46.2K | 405 | 35 |
About Adobe
Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing and engaging with compelling content multiple operating systems, devices and media. The company operates with three segments: digital media content creation, digital experience for marketing solutions, and publishing for legacy products (less than 5% of revenue).
Adobe's Current Market Status
- Currently trading with a volume of 223,562, the ADBE's price is down by -1.73%, now at $617.12.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 42 days.
What The Experts Say On Adobe
In the last month, 2 experts released ratings on this stock with an average target price of $602.0.
- An analyst from Exane BNP Paribas has revised its rating downward to Underperform, adjusting the price target to $499.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Adobe, which currently sits at a price target of $705.
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 Adobe, 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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