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 18 uncommon options trades for Adobe.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $193,810, and 14 are calls, for a total amount of $735,782.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $410.0 to $700.0 for Adobe over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Adobe stands at 459.4, with a total volume reaching 933.00. 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 $410.0 to $700.0, throughout the last 30 days.
Adobe Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | TRADE | BULLISH | 01/19/24 | $410.00 | $180.4K | 933 | 13 |
| ADBE | CALL | TRADE | BEARISH | 01/19/24 | $445.00 | $87.1K | 157 | 6 |
| ADBE | CALL | SWEEP | BEARISH | 01/17/25 | $700.00 | $84.2K | 362 | 0 |
| ADBE | PUT | TRADE | BEARISH | 12/20/24 | $530.00 | $72.0K | 0 | 20 |
| ADBE | PUT | TRADE | BEARISH | 12/20/24 | $520.00 | $64.4K | 0 | 20 |
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).
Adobe's Current Market Status
- Trading volume stands at 350,279, with ADBE's price down by -0.73%, positioned at $592.2.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 57 days.
Expert Opinions on Adobe
In the last month, 2 experts released ratings on this stock with an average target price of $702.5.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Adobe, targeting a price of $705.
- Showing optimism, an analyst from Barclays upgrades its rating to Overweight with a revised price target of $700.
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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