ON Semiconductor's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish 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 17 uncommon options trades for ON Semiconductor.

This isn't normal.

The overall sentiment of these big-money traders is split between 47% bullish and 41%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $170,942, and 14 are calls, for a total amount of $802,736.

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 $40.0 to $65.0 for ON Semiconductor during the past quarter.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for ON Semiconductor options trades today is 1552.7 with a total volume of 13,503.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for ON Semiconductor's big money trades within a strike price range of $40.0 to $65.0 over the last 30 days.

ON Semiconductor Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

In light of the recent options history for ON Semiconductor, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of ON Semiconductor

• Trading volume stands at 4,774,863, with ON's price up by 0.7%, positioned at $55.91.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 67 days.

What Analysts Are Saying About ON Semiconductor

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $58.2.

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. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Underweight rating for ON Semiconductor, targeting a price of $44. * Maintaining their stance, an analyst from Roth MKM continues to hold a Buy rating for ON Semiconductor, targeting a price of $60. * Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for ON Semiconductor, targeting a price of $52. * An analyst from UBS persists with their Neutral rating on ON Semiconductor, maintaining a target price of $65. * An analyst from Susquehanna has decided to maintain their Positive rating on ON Semiconductor, which currently sits at a price target of $70.

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.