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 131 extraordinary options activities for Adobe. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 46% leaning bullish and 53% bearish. Among these notable options, 48 are puts, totaling $2,313,961, and 83 are calls, amounting to $4,863,978.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $300.0 to $900.0 for Adobe over the last 3 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 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 $300.0 to $900.0, over the past month.
Adobe Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | SWEEP | BEARISH | 04/19/24 | $555.00 | $177.0K | 397 | 134 |
| ADBE | CALL | SWEEP | BULLISH | 06/21/24 | $560.00 | $149.5K | 550 | 85 |
| ADBE | CALL | TRADE | BEARISH | 03/15/24 | $490.00 | $121.3K | 152 | 17 |
| ADBE | CALL | TRADE | BEARISH | 03/15/24 | $495.00 | $113.8K | 163 | 17 |
| ADBE | PUT | SWEEP | NEUTRAL | 09/20/24 | $500.00 | $108.6K | 394 | 40 |
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 2,846,609, the ADBE's price is up by 1.79%, now at $561.55.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 3 days.
Professional Analyst Ratings for Adobe
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $660.0.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Adobe with a target price of $660.
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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