Whales with a lot of money to spend have taken a noticeably bearish stance on Qualcomm.
Looking at options history for Qualcomm QCOM we detected 34 trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.
From the overall spotted trades, 23 are puts, for a total amount of $8,215,916 and 11, calls, for a total amount of $566,141.
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 $120.0 and $162.5 for Qualcomm, 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 Qualcomm's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Qualcomm's significant trades, within a strike price range of $120.0 to $162.5, over the past month.
Qualcomm 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| QCOM | PUT | TRADE | BULLISH | 07/19/24 | $125.00 | $2.1M | 30.3K | 10.4K |
| QCOM | PUT | TRADE | NEUTRAL | 07/19/24 | $125.00 | $2.0M | 30.3K | 22.5K |
| QCOM | PUT | TRADE | BULLISH | 07/19/24 | $125.00 | $2.0M | 30.3K | 6 |
| QCOM | PUT | TRADE | BULLISH | 07/19/24 | $125.00 | $262.5K | 30.3K | 5.6K |
| QCOM | PUT | SWEEP | BEARISH | 07/19/24 | $125.00 | $249.0K | 30.3K | 7.6K |
About Qualcomm
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
In light of the recent options history for Qualcomm, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Qualcomm's Current Market Status
- Trading volume stands at 1,231,710, with QCOM's price down by -0.83%, positioned at $139.94.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 89 days.
Expert Opinions on Qualcomm
In the last month, 5 experts released ratings on this stock with an average target price of $165.0.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $150.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Qualcomm with a target price of $165.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Qualcomm, which currently sits at a price target of $170.
- An analyst from Keybanc persists with their Overweight rating on Qualcomm, maintaining a target price of $180.
- An analyst from Rosenblatt downgraded its action to Buy with a price target of $160.
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 Qualcomm, Benzinga Pro gives you real-time options trades alerts.
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