Unpacking the Latest Options Trading Trends in Qualcomm

High-rolling investors have positioned themselves bearish on Qualcomm QCOM, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in QCOM often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 11 options trades for Qualcomm. This is not a typical pattern.

The sentiment among these major traders is split, with 45% bullish and 54% bearish. Among all the options we identified, there was one put, amounting to $52,140, and 10 calls, totaling $372,386.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $105.0 and $180.0 for Qualcomm, spanning the last three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Qualcomm's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Qualcomm's substantial trades, within a strike price spectrum from $105.0 to $180.0 over the preceding 30 days.

Qualcomm 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Qualcomm

Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.

Following our analysis of the options activities associated with Qualcomm, we pivot to a closer look at the company's own performance.

Where Is Qualcomm Standing Right Now?

• With a volume of 2,637,031, the price of QCOM is down -0.6% at $123.47.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 80 days.

What Analysts Are Saying About Qualcomm

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $133.8.

• An analyst from DZ Bank upgraded its action to Buy with a price target of $140.
• An analyst from Morgan Stanley persists with their Overweight rating on Qualcomm, maintaining a target price of $119.
• Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Qualcomm, targeting a price of $140.
• An analyst from Susquehanna persists with their Positive rating on Qualcomm, maintaining a target price of $130.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Qualcomm with a target price of $140.

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 Qualcomm options trades with real-time alerts from Benzinga Pro.