Investors with a lot of money to spend have taken a bullish stance on Qualcomm QCOM.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with QCOM, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Qualcomm.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $291,173, and 5 are calls, for a total amount of $233,104.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $195.0 for Qualcomm over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Qualcomm stands at 903.25, with a total volume reaching 829.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Qualcomm, situated within the strike price corridor from $100.0 to $195.0, throughout the last 30 days.
Qualcomm Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| QCOM | PUT | SWEEP | BULLISH | 06/21/24 | $12.95 | $12.8 | $12.85 | $180.00 | $101.5K | 1.7K | 217 |
| QCOM | CALL | TRADE | BULLISH | 06/20/25 | $81.0 | $78.0 | $80.0 | $100.00 | $80.0K | 100 | 0 |
| QCOM | PUT | SWEEP | BULLISH | 06/21/24 | $22.9 | $22.85 | $22.9 | $195.00 | $77.8K | 0 | 69 |
| QCOM | CALL | TRADE | BEARISH | 10/18/24 | $16.1 | $16.0 | $16.0 | $180.00 | $48.0K | 260 | 30 |
| QCOM | CALL | TRADE | BEARISH | 04/19/24 | $15.9 | $15.6 | $15.55 | $160.00 | $46.6K | 1.8K | 52 |
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.
Following our analysis of the options activities associated with Qualcomm, we pivot to a closer look at the company's own performance.
Qualcomm's Current Market Status
- With a trading volume of 733,956, the price of QCOM is up by 0.86%, reaching $175.4.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 27 days from now.
What Analysts Are Saying About Qualcomm
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $150.0.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $150.
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 Qualcomm options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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