A Closer Look at Adobe's Options Market Dynamics

Deep-pocketed investors have adopted a bearish approach towards Adobe ADBE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ADBE usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 83 extraordinary options activities for Adobe. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 36% leaning bullish and 42% bearish. Among these notable options, 63 are puts, totaling $5,232,954, and 20 are calls, amounting to $2,384,693.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $340.0 to $700.0 for Adobe during the past quarter.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Adobe's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Adobe's substantial trades, within a strike price spectrum from $340.0 to $700.0 over the preceding 30 days.

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).

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

Adobe's Current Market Status

• With a volume of 1,968,443, the price of ADBE is down -2.25% at $390.35.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 86 days.

Professional Analyst Ratings for Adobe

5 market experts have recently issued ratings for this stock, with a consensus target price of $487.6.

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. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Adobe, which currently sits at a price target of $600. * An analyst from Baird has decided to maintain their Neutral rating on Adobe, which currently sits at a price target of $490. * An analyst from Keybanc persists with their Underweight rating on Adobe, maintaining a target price of $390. * Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Adobe with a target price of $430. * Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Adobe, targeting a price of $528.

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.