High-rolling investors have positioned themselves bearish on Adobe ADBE, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ADBE often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Adobe. This is not a typical pattern.
The sentiment among these major traders is split, with 44% bullish and 55% bearish. Among all the options we identified, there was one put, amounting to $85,580, and 8 calls, totaling $405,741.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $460.0 and $625.0 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 387.0, with a total volume reaching 199.00. 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 $460.0 to $625.0, throughout the last 30 days.
Adobe 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | SWEEP | BULLISH | 12/15/23 | $610.00 | $116.4K | 1.0K | 1 |
| ADBE | CALL | TRADE | BULLISH | 06/21/24 | $460.00 | $90.0K | 111 | 0 |
| ADBE | PUT | TRADE | NEUTRAL | 12/15/23 | $610.00 | $85.5K | 343 | 82 |
| ADBE | CALL | TRADE | BEARISH | 12/15/23 | $625.00 | $43.5K | 956 | 24 |
| ADBE | CALL | SWEEP | BULLISH | 12/22/23 | $610.00 | $40.5K | 173 | 21 |
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).
Following our analysis of the options activities associated with Adobe, we pivot to a closer look at the company's own performance.
Present Market Standing of Adobe
- Currently trading with a volume of 181,547, the ADBE's price is up by 1.01%, now at $616.17.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 2 days.
What The Experts Say On Adobe
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $710.0.
- Showing optimism, an analyst from KGI Securities upgrades its rating to Outperform with a revised price target of $730.
- An analyst from BMO Capital persists with their Outperform rating on Adobe, maintaining a target price of $690.
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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