A whale with a lot of money to spend has taken a noticeably bearish stance on Analog Devices.
Looking at options history for Analog Devices ADI we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $385,012 and 8, calls, for a total amount of $385,972.
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 $145.0 to $200.0 for Analog Devices over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Analog Devices's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Analog Devices's whale trades within a strike price range from $145.0 to $200.0 in the last 30 days.
Analog Devices 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 |
|---|---|---|---|---|---|---|---|---|
| ADI | PUT | TRADE | BULLISH | 01/19/24 | $145.00 | $160.9K | 1.1K | 355 |
| ADI | PUT | SWEEP | BEARISH | 09/15/23 | $180.00 | $143.3K | 537 | 128 |
| ADI | PUT | TRADE | BEARISH | 12/15/23 | $175.00 | $80.6K | 31 | 64 |
| ADI | CALL | TRADE | BULLISH | 12/15/23 | $175.00 | $77.0K | 11 | 47 |
| ADI | CALL | TRADE | BEARISH | 12/15/23 | $175.00 | $63.9K | 11 | 88 |
Where Is Analog Devices Standing Right Now?
- With a volume of 1,123,835, the price of ADI is down -2.23% at $175.79.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 72 days.
What The Experts Say On Analog Devices:
- Truist Securities has decided to maintain their Buy rating on Analog Devices, which currently sits at a price target of $213.
- BMO Capital has decided to maintain their Outperform rating on Analog Devices, which currently sits at a price target of $200.
- Keybanc has decided to maintain their Overweight rating on Analog Devices, which currently sits at a price target of $220.
- JP Morgan has decided to maintain their Overweight rating on Analog Devices, which currently sits at a price target of $205.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Analog Devices, which currently sits at a price target of $195.
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 Analog Devices, 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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