Whales with a lot of money to spend have taken a noticeably bearish stance on ON Semiconductor.
Looking at options history for ON Semiconductor ON we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $207,106 and 4, calls, for a total amount of $196,329.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $74.0 to $85.0 for ON Semiconductor over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for ON Semiconductor options trades today is 888.86 with a total volume of 2,333.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for ON Semiconductor's big money trades within a strike price range of $74.0 to $85.0 over the last 30 days.
ON Semiconductor 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 |
|---|---|---|---|---|---|---|---|---|
| ON | PUT | TRADE | BULLISH | 01/05/24 | $77.00 | $72.7K | 103 | 689 |
| ON | CALL | SWEEP | NEUTRAL | 01/17/25 | $85.00 | $62.7K | 1.7K | 28 |
| ON | CALL | SWEEP | BEARISH | 03/15/24 | $75.00 | $58.0K | 1.8K | 620 |
| ON | PUT | SWEEP | BEARISH | 03/15/24 | $80.00 | $56.1K | 710 | 69 |
| ON | CALL | TRADE | BEARISH | 02/02/24 | $74.00 | $48.5K | 0 | 100 |
About ON Semiconductor
Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and the largest supplier of image sensors to the automotive market. While the firm used to be highly vertically integrated, it now pursues a hybrid manufacturing strategy for flexible capacity. Onsemi is pivoting to focus on emerging applications like electric vehicles, autonomous vehicles, industrial automation, and renewable energy.
Having examined the options trading patterns of ON Semiconductor, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of ON Semiconductor
- With a volume of 1,988,059, the price of ON is down -4.27% at $75.92.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 32 days.
What The Experts Say On ON Semiconductor
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $85.0.
- Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for ON Semiconductor, targeting a price of $85.
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 ON Semiconductor, Benzinga Pro gives you real-time options trades 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.
