A whale with a lot of money to spend has taken a noticeably bearish stance on ON Semiconductor.
Looking at options history for ON Semiconductor ON we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 20% of the investors opened trades with bullish expectations and 80% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $260,000 and 7, calls, for a total amount of $727,933.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $110.0 for ON Semiconductor over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for ON Semiconductor options trades today is 654.88 with a total volume of 1,562.00.
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 $60.0 to $110.0 over the last 30 days.
ON Semiconductor Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ON | CALL | SWEEP | BEARISH | 01/19/24 | $80.00 | $175.0K | 1.3K | 100 |
| ON | CALL | TRADE | BULLISH | 01/19/24 | $80.00 | $160.5K | 1.3K | 100 |
| ON | CALL | TRADE | BEARISH | 01/17/25 | $110.00 | $145.5K | 114 | 100 |
| ON | PUT | SWEEP | BEARISH | 01/19/24 | $85.00 | $112.0K | 643 | 114 |
| ON | CALL | SWEEP | BEARISH | 06/16/23 | $90.00 | $89.1K | 1.3K | 69 |
Where Is ON Semiconductor Standing Right Now?
- With a volume of 4,102,577, the price of ON is up 5.6% at $88.28.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 60 days.
What The Experts Say On ON Semiconductor:
- Rosenblatt downgraded its action to Buy with a price target of $95
- BMO Capital has decided to maintain their Market Perform rating on ON Semiconductor, which currently sits at a price target of $100.
- Stifel has decided to maintain their Hold rating on ON Semiconductor, which currently sits at a price target of $83.
- Mizuho has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $93.
- Needham downgraded its action to Strong Buy with a price target of $110
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.
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