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 positions 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.
Today, Benzinga's options scanner spotted 9 options trades for Qualcomm.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 22%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $30,615, and 8, calls, for a total amount of $718,356.
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 $150.0 to $220.0 for Qualcomm over the last 3 months.
Analyzing 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 Qualcomm's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Qualcomm's significant trades, within a strike price range of $150.0 to $220.0, over the past month.
Qualcomm Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| QCOM | CALL | SWEEP | BEARISH | 01/17/25 | $68.2 | $66.1 | $66.83 | $150.00 | $334.2K | 3.5K | 0 |
| QCOM | CALL | TRADE | BULLISH | 01/17/25 | $67.4 | $67.0 | $67.4 | $150.00 | $134.8K | 3.5K | 51 |
| QCOM | CALL | SWEEP | BULLISH | 06/14/24 | $6.25 | $6.2 | $6.25 | $207.50 | $53.2K | 1.0K | 44 |
| QCOM | CALL | SWEEP | BULLISH | 06/14/24 | $9.25 | $7.95 | $9.25 | $205.00 | $46.2K | 1.0K | 27 |
| QCOM | CALL | TRADE | BULLISH | 06/21/24 | $3.05 | $2.73 | $3.0 | $215.00 | $45.0K | 1.3K | 31 |
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.
In light of the recent options history for Qualcomm, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Qualcomm Standing Right Now?
- Currently trading with a volume of 301,132, the QCOM's price is up by 1.92%, now at $212.51.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 49 days.
Professional Analyst Ratings for Qualcomm
In the last month, 3 experts released ratings on this stock with an average target price of $240.0.
- Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Qualcomm, targeting a price of $235.
- An analyst from B of A Securities persists with their Buy rating on Qualcomm, maintaining a target price of $245.
- Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Qualcomm with a target price of $240.
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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