Investors with a lot of money to spend have taken a bullish 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 10 uncommon options trades for Adobe.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $397,713, and 2 are calls, for a total amount of $117,132.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $490.0 to $540.0 for Adobe during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Adobe's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Adobe's substantial trades, within a strike price spectrum from $490.0 to $540.0 over the preceding 30 days.
Adobe Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | TRADE | BULLISH | 08/09/24 | $47.05 | $41.0 | $45.0 | $490.00 | $90.0K | 22 | 0 |
| ADBE | PUT | SWEEP | BULLISH | 11/15/24 | $24.9 | $23.8 | $24.9 | $505.00 | $74.6K | 84 | 108 |
| ADBE | PUT | TRADE | BEARISH | 01/17/25 | $33.95 | $31.6 | $33.45 | $505.00 | $66.9K | 54 | 4 |
| ADBE | PUT | SWEEP | BULLISH | 10/18/24 | $35.55 | $35.4 | $35.4 | $540.00 | $63.8K | 191 | 19 |
| ADBE | PUT | TRADE | BEARISH | 01/17/25 | $33.95 | $31.95 | $33.4 | $505.00 | $63.4K | 54 | 44 |
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, optimizing,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.
Present Market Standing of Adobe
- Currently trading with a volume of 212,035, the ADBE's price is up by 0.38%, now at $532.28.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 34 days.
What The Experts Say On Adobe
In the last month, 2 experts released ratings on this stock with an average target price of $617.5.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Adobe, which currently sits at a price target of $635.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $600.
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 Adobe with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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