Investors with a lot of money to spend have taken a bullish stance on Analog Devices ADI.
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 ADI, 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 11 uncommon options trades for Analog Devices.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 18%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $555,010, and 9 are calls, for a total amount of $599,561.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $230.0 to $260.0 for Analog Devices during the past quarter.
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 Analog Devices's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Analog Devices's significant trades, within a strike price range of $230.0 to $260.0, over the past month.
Analog Devices 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADI | PUT | TRADE | BULLISH | 06/20/25 | $22.1 | $21.0 | $21.18 | $240.00 | $529.5K | 116 | 0 |
| ADI | CALL | TRADE | NEUTRAL | 01/17/25 | $13.2 | $13.0 | $13.11 | $260.00 | $196.6K | 276 | 0 |
| ADI | CALL | SWEEP | BULLISH | 08/16/24 | $4.9 | $4.9 | $4.9 | $250.00 | $122.5K | 1.3K | 308 |
| ADI | CALL | SWEEP | BULLISH | 08/16/24 | $4.9 | $4.7 | $4.9 | $250.00 | $60.2K | 1.3K | 179 |
| ADI | CALL | SWEEP | BULLISH | 07/19/24 | $2.4 | $2.3 | $2.4 | $242.50 | $50.1K | 179 | 1 |
About Analog Devices
Analog Devices is a leading analog, mixed signal, and digital signal processing chipmaker. The firm has a significant market share lead in converter chips, which are used to translate analog signals to digital and vice versa. The company serves tens of thousands of customers, and more than half of its chip sales are made to industrial and automotive end markets. Analog Devices' chips are also incorporated into wireless infrastructure equipment.
After a thorough review of the options trading surrounding Analog Devices, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Analog Devices's Current Market Status
- Currently trading with a volume of 1,213,366, the ADI's price is up by 2.15%, now at $242.84.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 36 days.
What Analysts Are Saying About Analog Devices
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $250.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $250.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Analog Devices with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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