Whales with a lot of money to spend have taken a noticeably bearish stance on Adobe.
Looking at options history for Adobe ADBE we detected 20 trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 65% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $405,124 and 12, calls, for a total amount of $776,937.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $470.0 to $660.0 for Adobe during the past quarter.
Volume & Open Interest Trends
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 Adobe'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 Adobe's whale trades within a strike price range from $470.0 to $660.0 in the last 30 days.
Adobe Option Activity Analysis: 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 | SWEEP | BEARISH | 12/15/23 | $630.00 | $187.0K | 379 | 1.1K |
| ADBE | CALL | TRADE | BEARISH | 12/01/23 | $540.00 | $115.9K | 42 | 0 |
| ADBE | PUT | SWEEP | NEUTRAL | 12/15/23 | $570.00 | $108.5K | 214 | 1.2K |
| ADBE | PUT | SWEEP | BULLISH | 12/15/23 | $590.00 | $91.4K | 209 | 13 |
| ADBE | CALL | SWEEP | BULLISH | 02/16/24 | $620.00 | $65.0K | 697 | 35 |
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).
Having examined the options trading patterns of Adobe, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Adobe
- Trading volume stands at 1,184,310, with ADBE's price down by -1.21%, positioned at $589.98.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 30 days.
What The Experts Say On Adobe
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $655.0.
- An analyst from Oppenheimer upgraded its action to Outperform with a price target of $660.
- An analyst from Piper Sandler downgraded its action to Overweight with a price target of $650.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Adobe, targeting a price of $670.
- An analyst from DA Davidson upgraded its action to Buy with a price target of $640.
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.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
