Financial giants have made a conspicuous bullish move on Qualcomm. Our analysis of options history for Qualcomm QCOM revealed 16 unusual trades.
Delving into the details, we found 56% of traders were bullish, while 18% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $69,069, and 14 were calls, valued at $814,199.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $140.0 and $250.0 for Qualcomm, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Qualcomm stands at 4674.14, with a total volume reaching 1,980.00. 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 $140.0 to $250.0, throughout the last 30 days.
Qualcomm Option Activity Analysis: 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 | BULLISH | 07/26/24 | $5.0 | $4.95 | $5.0 | $205.00 | $85.0K | 1.3K | 0 |
| QCOM | CALL | SWEEP | NEUTRAL | 07/26/24 | $6.7 | $6.55 | $6.63 | $205.00 | $81.5K | 1.3K | 408 |
| QCOM | CALL | SWEEP | NEUTRAL | 08/16/24 | $30.8 | $30.45 | $30.63 | $180.00 | $76.5K | 11.9K | 2 |
| QCOM | CALL | SWEEP | BULLISH | 01/17/25 | $33.0 | $32.15 | $33.0 | $185.00 | $75.9K | 1.3K | 0 |
| QCOM | CALL | TRADE | BEARISH | 08/16/24 | $15.15 | $14.95 | $15.0 | $200.00 | $75.0K | 16.0K | 199 |
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.
Having examined the options trading patterns of Qualcomm, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Qualcomm
- With a trading volume of 2,081,728, the price of QCOM is up by 2.69%, reaching $207.88.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 16 days from now.
Expert Opinions on Qualcomm
3 market experts have recently issued ratings for this stock, with a consensus target price of $231.66666666666666.
- An analyst from Citigroup persists with their Neutral rating on Qualcomm, maintaining a target price of $200.
- Consistent in their evaluation, an analyst from Tigress Financial keeps a Buy rating on Qualcomm with a target price of $270.
- An analyst from Keybanc persists with their Overweight rating on Qualcomm, maintaining a target price of $225.
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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