A whale with a lot of money to spend has taken a noticeably bearish stance on Adobe.
Looking at options history for Adobe ADBE we detected 17 strange trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $249,123 and 11, calls, for a total amount of $651,074.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $540.0 for Adobe over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Adobe options trades today is 567.21 with a total volume of 1,316.00.
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 $400.0 to $540.0 over the last 30 days.
Adobe Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | SWEEP | BEARISH | 08/18/23 | $500.00 | $176.9K | 727 | 106 |
| ADBE | CALL | SWEEP | BULLISH | 07/21/23 | $480.00 | $96.6K | 1.2K | 69 |
| ADBE | CALL | SWEEP | BEARISH | 09/15/23 | $510.00 | $61.0K | 630 | 146 |
| ADBE | CALL | SWEEP | BULLISH | 09/15/23 | $510.00 | $57.8K | 630 | 28 |
| ADBE | PUT | SWEEP | BULLISH | 08/18/23 | $475.00 | $56.7K | 285 | 83 |
Where Is Adobe Standing Right Now?
- With a volume of 1,050,009, the price of ADBE is down -0.36% at $482.96.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 80 days.
What The Experts Say On Adobe:
- Piper Sandler has decided to maintain their Overweight rating on Adobe, which currently sits at a price target of $572.
- Wells Fargo upgraded its action to Overweight with a price target of $525
- B of A Securities has decided to maintain their Buy rating on Adobe, which currently sits at a price target of $480.
- RBC Capital has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $460.
- BMO Capital upgraded its action to Outperform with a price target of $570
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
