What the Options Market Tells Us About Adobe

Investors with a lot of money to spend have taken a bullish stance on Adobe ADBE.

And retail traders should know.

We noticed this today when the trades 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 ADBE, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 16 uncommon options trades for Adobe.

This isn't normal.

The overall sentiment of these big-money traders is split between 43% bullish and 37%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $143,801, and 12 are calls, for a total amount of $5,027,713.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $420.0 to $640.0 for Adobe over the recent three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Adobe's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Adobe's significant trades, within a strike price range of $420.0 to $640.0, over the past month.

Adobe Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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,g 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).

Adobe's Current Market Status

• With a volume of 234,202, the price of ADBE is down -1.06% at $569.27.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 65 days.

Professional Analyst Ratings for Adobe

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $631.0.

• Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Adobe, targeting a price of $700.
• An analyst from BMO Capital persists with their Outperform rating on Adobe, maintaining a target price of $580.
• Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Adobe, targeting a price of $600.
• An analyst from Barclays persists with their Overweight rating on Adobe, maintaining a target price of $650.
• An analyst from TD Cowen has decided to maintain their Buy rating on Adobe, which currently sits at a price target of $625.

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.