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 13 uncommon options trades for Adobe.
This isn't normal.
The overall sentiment of these big-money traders is split between 15% bullish and 84%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $234,470, and 7 are calls, for a total amount of $263,348.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $350.0 and $650.0 for Adobe, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Adobe stands at 388.73, with a total volume reaching 167.00. 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 $350.0 to $650.0, throughout the last 30 days.
Adobe Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | PUT | SWEEP | NEUTRAL | 02/16/24 | $600.00 | $71.2K | 441 | 17 |
| ADBE | CALL | TRADE | BEARISH | 01/19/24 | $590.00 | $60.0K | 446 | 60 |
| ADBE | CALL | TRADE | BEARISH | 01/19/24 | $590.00 | $54.0K | 446 | 42 |
| ADBE | CALL | SWEEP | NEUTRAL | 01/19/24 | $560.00 | $45.8K | 1.1K | 14 |
| ADBE | PUT | TRADE | BULLISH | 06/21/24 | $610.00 | $40.0K | 389 | 25 |
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).
In light of the recent options history for Adobe, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Adobe's Current Market Status
- Currently trading with a volume of 515,796, the ADBE's price is down by -0.72%, now at $597.88.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 7 days.
Professional Analyst Ratings for Adobe
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $683.3333333333334.
- An analyst from KGI Securities upgraded its action to Outperform with a price target of $730.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Adobe with a target price of $670.
- In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting 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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
