Qualcomm's Options Frenzy: What You Need to Know

Whales with a lot of money to spend have taken a noticeably bearish stance on Qualcomm.

Looking at options history for Qualcomm QCOM we detected 27 trades.

If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 44% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $295,690 and 19, calls, for a total amount of $946,076.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $120.0 to $180.0 for Qualcomm over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Qualcomm's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Qualcomm's whale activity within a strike price range from $120.0 to $180.0 in the last 30 days.

Qualcomm Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

After a thorough review of the options trading surrounding Qualcomm, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Qualcomm's Current Market Status

• With a volume of 2,952,225, the price of QCOM is down -2.04% at $161.13.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 79 days.

What Analysts Are Saying About Qualcomm

In the last month, 5 experts released ratings on this stock with an average target price of $224.0.

• An analyst from Rosenblatt has decided to maintain their Buy rating on Qualcomm, which currently sits at a price target of $250.
• An analyst from Susquehanna has decided to maintain their Positive rating on Qualcomm, which currently sits at a price target of $250.
• In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $205.
• An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $215.
• An analyst from HSBC downgraded its action to Hold with a price target of $200.

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.