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 34 extraordinary options activities for Adobe. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 64% bearish. Among these notable options, 5 are puts, totaling $924,659, and 29 are calls, amounting to $1,295,672.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $300.0 to $660.0 for Adobe over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $300.0 to $660.0 in the last 30 days.
Adobe 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | PUT | SWEEP | BULLISH | 12/15/23 | $625.00 | $275.8K | 63 | 109 |
| ADBE | PUT | SWEEP | BULLISH | 12/15/23 | $625.00 | $220.2K | 63 | 109 |
| ADBE | PUT | SWEEP | BEARISH | 12/15/23 | $615.00 | $219.9K | 100 | 109 |
| ADBE | CALL | TRADE | NEUTRAL | 12/01/23 | $550.00 | $204.0K | 227 | 4 |
| ADBE | PUT | SWEEP | BULLISH | 12/15/23 | $615.00 | $181.5K | 100 | 203 |
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 volume of 157,030, the price of ADBE is up 0.2% at $620.99.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 19 days.
Professional Analyst Ratings for Adobe
In the last month, 4 experts released ratings on this stock with an average target price of $655.0.
- An analyst from BMO Capital has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $670.
- Showing optimism, an analyst from DA Davidson upgrades its rating to Buy with a revised price target of $640.
- An analyst from Piper Sandler downgraded its action to Overweight with a price target of $650.
- An analyst from Oppenheimer has elevated its stance to Outperform, setting a new price target at $660.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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