This Is What Whales Are Betting On Adobe

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 9 uncommon options trades for Adobe.

This isn't normal.

The overall sentiment of these big-money traders is split between 77% bullish and 11%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $51,518, and 7 are calls, for a total amount of $1,235,495.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $230.0 to $700.0 for Adobe over the recent three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Adobe's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Adobe's significant trades, within a strike price range of $230.0 to $700.0, over the past month.

Adobe 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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).

Having examined the options trading patterns of Adobe, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Adobe's Current Market Status

• With a trading volume of 43,215, the price of ADBE is up by 0.34%, reaching $440.07.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 9 days from now.

Professional Analyst Ratings for Adobe

In the last month, 2 experts released ratings on this stock with an average target price of $552.5.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from BMO Capital persists with their Outperform rating on Adobe, maintaining a target price of $515. * Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $590.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Adobe with Benzinga Pro for real-time alerts.