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 21 strange trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $304,115 and 14, calls, for a total amount of $651,374.
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 $505.0 to $650.0 for Adobe over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Adobe's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Adobe's whale activity within a strike price range from $505.0 to $650.0 in 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 | TRADE | BEARISH | 10/20/23 | $550.00 | $227.8K | 1.3K | 243 |
| ADBE | PUT | SWEEP | NEUTRAL | 10/20/23 | $565.00 | $72.8K | 140 | 95 |
| ADBE | CALL | TRADE | BULLISH | 12/15/23 | $570.00 | $50.0K | 466 | 1 |
| ADBE | PUT | TRADE | BULLISH | 02/16/24 | $580.00 | $44.4K | 1 | 0 |
| ADBE | PUT | TRADE | BULLISH | 10/13/23 | $560.00 | $43.4K | 29 | 132 |
Where Is Adobe Standing Right Now?
- With a volume of 1,115,241, the price of ADBE is up 0.8% at $554.32.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 63 days.
What The Experts Say On Adobe:
- BMO Capital has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $645.
- Piper Sandler has decided to maintain their Overweight rating on Adobe, which currently sits at a price target of $650.
- Wolfe Research has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $650.
- RBC Capital downgraded its action to Outperform with a price target of $615
- Citigroup has decided to maintain their Neutral rating on Adobe, which currently sits at a price target of $610.
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.
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