What the Options Market Tells Us About Adobe

Investors with a lot of money to spend have taken a bearish 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 11 uncommon options trades for Adobe.

This isn't normal.

The overall sentiment of these big-money traders is split between 27% bullish and 45%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $156,240, and 8 are calls, for a total amount of $387,806.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $400.0 and $530.0 for Adobe, spanning the last three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Adobe stands at 249.78, with a total volume reaching 85.00. 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 $400.0 to $530.0, throughout the last 30 days.

Adobe Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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).

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

• Trading volume stands at 436,916, with ADBE's price down by -1.04%, positioned at $501.93.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 65 days.

Professional Analyst Ratings for Adobe

5 market experts have recently issued ratings for this stock, with a consensus target price of $617.2.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Adobe with a target price of $660. * An analyst from UBS has decided to maintain their Neutral rating on Adobe, which currently sits at a price target of $550. * An analyst from Oppenheimer persists with their Outperform rating on Adobe, maintaining a target price of $625. * Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Adobe, targeting a price of $616. * An analyst from Piper Sandler has decided to maintain their Overweight rating on Adobe, which currently sits at a price target of $635.

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 Adobe, Benzinga Pro gives you real-time options trades alerts.