Whales with a lot of money to spend have taken a noticeably bullish stance on ON Semiconductor.
Looking at options history for ON Semiconductor ON we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $690,510 and 6, calls, for a total amount of $278,045.
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 $35.0 to $75.0 for ON Semiconductor over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of ON Semiconductor stands at 102.88, with a total volume reaching 8,402.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in ON Semiconductor, situated within the strike price corridor from $35.0 to $75.0, throughout the last 30 days.
ON Semiconductor Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ON | PUT | SWEEP | BULLISH | 10/25/24 | $1.12 | $0.72 | $0.8 | $55.00 | $661.6K | 4 | 8.0K |
| ON | CALL | SWEEP | NEUTRAL | 09/20/24 | $3.45 | $3.35 | $3.4 | $66.00 | $86.0K | 28 | 258 |
| ON | CALL | TRADE | BULLISH | 10/18/24 | $18.0 | $17.8 | $18.0 | $50.00 | $43.2K | 25 | 24 |
| ON | CALL | TRADE | BULLISH | 10/04/24 | $17.7 | $17.5 | $17.7 | $50.00 | $42.4K | 0 | 24 |
| ON | CALL | SWEEP | BEARISH | 01/17/25 | $12.75 | $12.65 | $12.65 | $60.00 | $40.4K | 216 | 33 |
About ON Semiconductor
Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and the largest supplier of image sensors to the automotive market. While the firm used to be highly vertically integrated, it now pursues a hybrid manufacturing strategy for flexible capacity. Onsemi is pivoting to focus on emerging applications like electric vehicles, autonomous vehicles, industrial automation, and renewable energy.
After a thorough review of the options trading surrounding ON Semiconductor, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of ON Semiconductor
- With a trading volume of 2,026,829, the price of ON is down by -2.85%, reaching $67.42.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 48 days from now.
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 ON Semiconductor 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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