Check Out What Whales Are Doing With ADBE

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 25 uncommon options trades for Adobe.

This isn't normal.

The overall sentiment of these big-money traders is split between 32% bullish and 56%, bearish.

Out of all of the special options we uncovered, 15 are puts, for a total amount of $1,258,158, and 10 are calls, for a total amount of $506,698.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $330.0 and $460.0 for Adobe, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Adobe options trades today is 610.65 with a total volume of 1,187.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Adobe's big money trades within a strike price range of $330.0 to $460.0 over the last 30 days.

Adobe Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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).

Following our analysis of the options activities associated with Adobe, we pivot to a closer look at the company's own performance.

Present Market Standing of Adobe

• Trading volume stands at 816,650, with ADBE's price up by 1.63%, positioned at $400.92.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 79 days.

Professional Analyst Ratings for Adobe

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $499.0.

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. * Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Adobe, targeting a price of $530. * Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Adobe with a target price of $430. * An analyst from UBS has decided to maintain their Neutral rating on Adobe, which currently sits at a price target of $460. * Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Adobe with a target price of $525. * An analyst from RBC Capital persists with their Outperform rating on Adobe, maintaining a target price of $550.

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.