Investors with a lot of money to spend have taken a bearish stance on Adobe ADBE.
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 ADBE, 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 22 uncommon options trades for Adobe.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 54%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $365,649, and 12 are calls, for a total amount of $5,683,887.
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 $390.0 to $600.0 for Adobe over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Adobe options trades today is 496.57 with a total volume of 1,718.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Adobe's big money trades within a strike price range of $390.0 to $600.0 over the last 30 days.
Adobe Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | TRADE | BULLISH | 06/18/26 | $118.6 | $110.45 | $118.0 | $460.00 | $4.9M | 1 | 423 |
| ADBE | CALL | SWEEP | BEARISH | 09/20/24 | $12.85 | $10.65 | $12.0 | $540.00 | $217.2K | 271 | 0 |
| ADBE | CALL | SWEEP | BEARISH | 08/16/24 | $24.5 | $24.0 | $24.5 | $475.00 | $78.4K | 58 | 11 |
| ADBE | CALL | SWEEP | BULLISH | 12/20/24 | $11.3 | $10.35 | $10.8 | $600.00 | $75.6K | 429 | 70 |
| ADBE | CALL | SWEEP | BEARISH | 06/21/24 | $25.05 | $23.6 | $23.6 | $455.00 | $68.4K | 21 | 42 |
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, optimizin,g 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).
After a thorough review of the options trading surrounding Adobe, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Adobe
- With a volume of 858,822, the price of ADBE is down -4.02% at $458.41.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 14 days.
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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