Investors with a lot of money to spend have taken a bullish stance on Analog Devices ADI.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ADI, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Analog Devices.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 20%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $25,920, and 9, calls, for a total amount of $448,380.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $240.0 to $250.0 for Analog Devices during the past quarter.
Analyzing 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 Analog Devices's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Analog Devices's substantial trades, within a strike price spectrum from $240.0 to $250.0 over the preceding 30 days.
Analog Devices Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADI | CALL | SWEEP | NEUTRAL | 07/19/24 | $7.3 | $7.2 | $7.3 | $240.00 | $145.2K | 1.6K | 222 |
| ADI | CALL | SWEEP | BEARISH | 07/19/24 | $7.4 | $7.3 | $7.3 | $240.00 | $57.6K | 1.6K | 301 |
| ADI | CALL | SWEEP | NEUTRAL | 07/19/24 | $7.4 | $7.2 | $7.3 | $240.00 | $43.8K | 1.6K | 301 |
| ADI | CALL | TRADE | BULLISH | 07/19/24 | $7.3 | $7.2 | $7.3 | $240.00 | $40.1K | 1.6K | 569 |
| ADI | CALL | TRADE | NEUTRAL | 07/19/24 | $7.4 | $7.2 | $7.3 | $240.00 | $36.5K | 1.6K | 629 |
About Analog Devices
Analog Devices is a leading analog, mixed signal, and digital signal processing chipmaker. The firm has a significant market share lead in converter chips, which are used to translate analog signals to digital and vice versa. The company serves tens of thousands of customers, and more than half of its chip sales are made to industrial and automotive end markets. Analog Devices' chips are also incorporated into wireless infrastructure equipment.
After a thorough review of the options trading surrounding Analog Devices, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Analog Devices Standing Right Now?
- With a trading volume of 664,371, the price of ADI is up by 1.15%, reaching $237.25.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 89 days from now.
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 Analog Devices 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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