Whales with a lot of money to spend have taken a noticeably bullish stance on Qualcomm.
Looking at options history for Qualcomm QCOM we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 56% of the investors opened trades with bullish expectations and 43% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $1,198,297 and 11, calls, for a total amount of $597,921.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $105.0 to $175.0 for Qualcomm over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Qualcomm options trades today is 2225.5 with a total volume of 2,468.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's big money trades within a strike price range of $105.0 to $175.0 over the last 30 days.
Qualcomm 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 |
|---|---|---|---|---|---|---|---|---|
| QCOM | PUT | TRADE | BULLISH | 01/17/25 | $150.00 | $885.5K | 3.3K | 700 |
| QCOM | PUT | TRADE | BULLISH | 04/19/24 | $145.00 | $185.9K | 2.3K | 1.1K |
| QCOM | CALL | SWEEP | BULLISH | 06/21/24 | $110.00 | $161.7K | 1.1K | 50 |
| QCOM | CALL | TRADE | BULLISH | 06/21/24 | $150.00 | $89.3K | 5.3K | 5 |
| QCOM | PUT | SWEEP | BULLISH | 04/19/24 | $150.00 | $55.6K | 2.4K | 200 |
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.
Where Is Qualcomm Standing Right Now?
- Currently trading with a volume of 1,301,902, the QCOM's price is up by 0.7%, now at $156.94.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 62 days.
What Analysts Are Saying About Qualcomm
5 market experts have recently issued ratings for this stock, with a consensus target price of $163.0.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Qualcomm, targeting a price of $180.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $150.
- 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 Piper Sandler has decided to maintain their Overweight rating on Qualcomm, which currently sits at a price target of $165.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $150.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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