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 28 uncommon options trades for Adobe.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 32%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $361,751, and 19 are calls, for a total amount of $1,257,784.
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 $440.0 to $620.0 for Adobe during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Adobe stands at 345.32, with a total volume reaching 1,519.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Adobe, situated within the strike price corridor from $440.0 to $620.0, throughout the last 30 days.
Adobe 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | SWEEP | BULLISH | 09/13/24 | $10.25 | $10.05 | $10.25 | $600.00 | $205.0K | 65 | 203 |
| ADBE | CALL | TRADE | BULLISH | 09/13/24 | $65.75 | $64.8 | $65.75 | $500.00 | $144.6K | 2 | 0 |
| ADBE | CALL | TRADE | BEARISH | 08/23/24 | $66.35 | $63.9 | $63.9 | $495.00 | $140.5K | 25 | 22 |
| ADBE | CALL | TRADE | BEARISH | 08/30/24 | $2.2 | $2.0 | $2.0 | $585.00 | $119.8K | 301 | 600 |
| ADBE | CALL | TRADE | NEUTRAL | 09/13/24 | $11.55 | $10.2 | $10.75 | $600.00 | $86.0K | 65 | 408 |
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, 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).
In light of the recent options history for Adobe, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Adobe
- With a volume of 504,808, the price of ADBE is down -0.21% at $556.26.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 20 days.
Professional Analyst Ratings for Adobe
1 market experts have recently issued ratings for this stock, with a consensus target price of $600.0.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $600.
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 Adobe 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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