Financial giants have made a conspicuous bearish move on Qualcomm. Our analysis of options history for Qualcomm QCOM revealed 9 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $96,595, and 7 were calls, valued at $321,965.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $140.0 to $200.0 for Qualcomm over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Qualcomm's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Qualcomm's whale trades within a strike price range from $140.0 to $200.0 in the last 30 days.
Qualcomm Option Activity Analysis: Last 30 Days
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 | TRADE | NEUTRAL | 04/19/24 | $11.2 | $10.7 | $10.95 | $180.00 | $65.7K | 209 | 0 |
| QCOM | CALL | SWEEP | BEARISH | 09/20/24 | $6.0 | $5.9 | $5.9 | $200.00 | $59.0K | 1.6K | 200 |
| QCOM | CALL | TRADE | BULLISH | 09/20/24 | $5.8 | $5.75 | $5.8 | $200.00 | $58.0K | 1.6K | 301 |
| QCOM | CALL | TRADE | BULLISH | 09/20/24 | $5.95 | $5.9 | $5.95 | $200.00 | $51.7K | 1.6K | 213 |
| QCOM | CALL | TRADE | BEARISH | 06/21/24 | $31.9 | $31.3 | $31.3 | $140.00 | $46.9K | 3.4K | 0 |
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.
After a thorough review of the options trading surrounding Qualcomm, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Qualcomm's Current Market Status
- With a trading volume of 622,114, the price of QCOM is down by -0.55%, reaching $168.91.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 15 days from now.
Professional Analyst Ratings for Qualcomm
In the last month, 4 experts released ratings on this stock with an average target price of $194.25.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Qualcomm, targeting a price of $205.
- An analyst from Cantor Fitzgerald has decided to maintain their Neutral rating on Qualcomm, which currently sits at a price target of $190.
- Reflecting concerns, an analyst from Evercore ISI Group lowers its rating to In-Line with a new price target of $177.
- An analyst from Susquehanna persists with their Positive rating on Qualcomm, maintaining a target price of $205.
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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