High-rolling investors have positioned themselves bullish on Autodesk ADSK, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ADSK often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Autodesk. This is not a typical pattern.
The sentiment among these major traders is split, with 75% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $39,730, and 7 calls, totaling $333,766.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $260.0 to $290.0 for Autodesk over the recent three months.
Insights into 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 Autodesk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Autodesk's significant trades, within a strike price range of $260.0 to $290.0, over the past month.
Autodesk Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADSK | CALL | SWEEP | BULLISH | 01/17/25 | $290.00 | $109.0K | 391 | 0 |
| ADSK | CALL | SWEEP | BULLISH | 01/17/25 | $290.00 | $65.4K | 391 | 249 |
| ADSK | PUT | TRADE | BEARISH | 03/01/24 | $260.00 | $39.7K | 52 | 39 |
| ADSK | CALL | SWEEP | BULLISH | 01/17/25 | $290.00 | $37.0K | 391 | 279 |
| ADSK | CALL | TRADE | BULLISH | 01/17/25 | $290.00 | $32.7K | 391 | 141 |
About Autodesk
Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment. Autodesk software enables design, modeling, and rendering needs of these industries. The company has over 4 million paid subscribers across 180 countries.
Following our analysis of the options activities associated with Autodesk, we pivot to a closer look at the company's own performance.
Autodesk's Current Market Status
- Currently trading with a volume of 732,158, the ADSK's price is down by 0.0%, now at $256.45.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 17 days.
What The Experts Say On Autodesk
4 market experts have recently issued ratings for this stock, with a consensus target price of $256.0.
- Reflecting concerns, an analyst from Rosenblatt lowers its rating to Buy with a new price target of $265.
- Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Autodesk with a target price of $260.
- An analyst from Keybanc has decided to maintain their Overweight rating on Autodesk, which currently sits at a price target of $265.
- An analyst from Piper Sandler has decided to maintain their Neutral rating on Autodesk, which currently sits at a price target of $234.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Autodesk options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
