A deep-pocketed investor has adopted a bearish approach towards Adobe ADBE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of this investor remains unknown, but such a substantial move in ADBE usually suggests insider knowledge. We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Adobe. This level of activity is out of the ordinary. The general mood among these heavyweight investors is divided, with 45% leaning bullish and 54% bearish. Among these notable options, 4 are puts, totaling $225,127, and 7 are calls, amounting to $500,224.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $350.0 to $620.0 for Adobe during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Adobe options trades today is 330.27 with a total volume of 246.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Adobe's big money trades within a strike price range of $350.0 to $620.0 over the last 30 days.
Adobe Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | TRADE | BEARISH | 04/19/24 | $520.00 | $300.9K | 53 | 34 |
| ADBE | PUT | SWEEP | BULLISH | 12/15/23 | $550.00 | $131.9K | 450 | 166 |
| ADBE | CALL | SWEEP | BULLISH | 11/17/23 | $560.00 | $59.4K | 859 | 11 |
| ADBE | PUT | SWEEP | NEUTRAL | 12/01/23 | $525.00 | $31.9K | 212 | 9 |
| ADBE | CALL | TRADE | BEARISH | 01/19/24 | $530.00 | $31.0K | 484 | 2 |
Where Is Adobe Standing Right Now?
- With a trading volume of 322,045, the price of ADBE has up by 1.17%, reaching $572.08. Current RSI values indicate that the stock is may be approaching overbought. Next earnings report is scheduled for 37 days from now.
Expert Opinions on Adobe:
- In a positive move, Oppenheimer has upgraded their rating to Outperform and adjusted the price target to $660.
- RBC Capital has revised its rating downward to Outperform, adjusting the price target to $615.
- DA Davidson upgraded its action to Buy with a price target of $640.
- In a cautious move, Stifel downgraded its rating to Buy, setting a price target of $600.
- Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $650.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Adobe options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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