Looking At Adobe's Recent Unusual Options Activity

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 positions 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.

Today, Benzinga's options scanner spotted 10 options trades for Adobe.

This isn't normal.

The overall sentiment of these big-money traders is split between 10% bullish and 90%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $25,668, and 9, calls, for a total amount of $447,179.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $570.0 to $700.0 for Adobe over the recent three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Adobe's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Adobe's substantial trades, within a strike price spectrum from $570.0 to $700.0 over the preceding 30 days.

Adobe 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Adobe's Current Market Status

• With a volume of 119,559, the price of ADBE is up 0.14% at $599.95.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 85 days.

What Analysts Are Saying About Adobe

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $684.0.

• Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Adobe, targeting a price of $675.
• Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Adobe with a target price of $625.
• An analyst from KGI Securities has elevated its stance to Outperform, setting a new price target at $730.
• Showing optimism, an analyst from Barclays upgrades its rating to Overweight with a revised price target of $700.
• Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Adobe with a target price of $690.

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.