Investors with a lot of money to spend have taken a bearish stance on ON Semiconductor ON.
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 ON, 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 12 uncommon options trades for ON Semiconductor.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 58%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $367,203, and 6 are calls, for a total amount of $681,330.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $75.0 for ON Semiconductor over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of ON Semiconductor stands at 1313.09, with a total volume reaching 2,578.00. 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 $55.0 to $75.0, throughout the last 30 days.
ON Semiconductor Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ON | CALL | TRADE | BULLISH | 10/25/24 | $3.7 | $3.55 | $3.65 | $68.00 | $301.1K | 3.3K | 858 |
| ON | PUT | TRADE | NEUTRAL | 01/16/26 | $5.8 | $5.45 | $5.6 | $55.00 | $168.0K | 562 | 300 |
| ON | CALL | SWEEP | BEARISH | 01/17/25 | $10.8 | $10.55 | $10.75 | $65.00 | $135.4K | 351 | 125 |
| ON | CALL | SWEEP | BEARISH | 01/17/25 | $10.9 | $10.6 | $10.75 | $65.00 | $134.3K | 351 | 125 |
| ON | PUT | TRADE | BEARISH | 12/20/24 | $4.5 | $4.3 | $4.46 | $70.00 | $89.2K | 4.6K | 200 |
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.
Having examined the options trading patterns of ON Semiconductor, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of ON Semiconductor
- With a trading volume of 3,875,397, the price of ON is up by 2.6%, reaching $71.9.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 3 days from now.
What Analysts Are Saying About ON Semiconductor
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $90.0.
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 Keybanc keeps a Overweight rating on ON Semiconductor with a target price of $90.
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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