Qualcomm Unusual Options Activity For July 16

Deep-pocketed investors have adopted a bullish approach towards Qualcomm QCOM, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in QCOM usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 36 extraordinary options activities for Qualcomm. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 47% leaning bullish and 44% bearish. Among these notable options, 15 are puts, totaling $1,225,932, and 21 are calls, amounting to $2,062,712.

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 $160.0 to $260.0 for Qualcomm over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Qualcomm options trades today is 3247.67 with a total volume of 6,557.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's big money trades within a strike price range of $160.0 to $260.0 over the last 30 days.

Qualcomm Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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

Present Market Standing of Qualcomm

• Trading volume stands at 5,924,226, with QCOM's price up by 0.77%, positioned at $209.79.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 15 days.

What The Experts Say On Qualcomm

4 market experts have recently issued ratings for this stock, with a consensus target price of $227.5.

• An analyst from Cantor Fitzgerald has decided to maintain their Neutral rating on Qualcomm, which currently sits at a price target of $215.
• Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Qualcomm, targeting a price of $225.
• Consistent in their evaluation, an analyst from Tigress Financial keeps a Buy rating on Qualcomm with a target price of $270.
• An analyst from Citigroup persists with their Neutral rating on Qualcomm, maintaining a target price of $200.

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.