Investors with a lot of money to spend have taken a bullish 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 13 uncommon options trades for Adobe.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $442,113, and 7 are calls, for a total amount of $404,155.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $260.0 to $680.0 for Adobe over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Adobe stands at 415.0, with a total volume reaching 255.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Adobe, situated within the strike price corridor from $260.0 to $680.0, throughout 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 | PUT | TRADE | BULLISH | 01/19/24 | $600.00 | $156.8K | 190 | 149 |
| ADBE | CALL | SWEEP | BEARISH | 12/15/23 | $450.00 | $134.9K | 253 | 4 |
| ADBE | CALL | TRADE | BEARISH | 01/19/24 | $430.00 | $96.5K | 3.6K | 5 |
| ADBE | PUT | TRADE | BULLISH | 01/19/24 | $600.00 | $95.2K | 190 | 16 |
| ADBE | PUT | SWEEP | BULLISH | 12/15/23 | $670.00 | $60.1K | 2 | 11 |
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).
Present Market Standing of Adobe
- With a volume of 366,584, the price of ADBE is up 0.11% at $620.12.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 16 days.
What Analysts Are Saying About Adobe
In the last month, 2 experts released ratings on this stock with an average target price of $660.0.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Adobe with a target price of $670.
- An analyst from Piper Sandler downgraded its action to Overweight with a price target of $650.
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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