Investors with a lot of money to spend have taken a bearish stance on Autodesk ADSK.
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 ADSK, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Autodesk.
This isn't normal.
The overall sentiment of these big-money traders is split between 18% bullish and 45%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $58,000, and 10, calls, for a total amount of $564,811.
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 $220.0 to $260.0 for Autodesk during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Autodesk'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 Autodesk's whale activity within a strike price range from $220.0 to $260.0 in the last 30 days.
Autodesk Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADSK | CALL | SWEEP | BEARISH | 09/20/24 | $11.5 | $11.3 | $11.3 | $260.00 | $129.9K | 3.2K | 476 |
| ADSK | CALL | TRADE | BULLISH | 07/19/24 | $15.8 | $15.1 | $15.8 | $240.00 | $90.0K | 284 | 3 |
| ADSK | PUT | TRADE | BULLISH | 08/23/24 | $6.3 | $5.8 | $5.8 | $250.00 | $58.0K | 16 | 0 |
| ADSK | CALL | TRADE | BEARISH | 09/20/24 | $11.4 | $10.9 | $11.1 | $260.00 | $55.5K | 3.2K | 101 |
| ADSK | CALL | TRADE | NEUTRAL | 09/20/24 | $11.4 | $11.2 | $11.3 | $260.00 | $48.5K | 3.2K | 398 |
About Autodesk
Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment. Autodesk software enables design, modeling, and rendering needs of these industries. The company has over 4 million paid subscribers across 180 countries.
In light of the recent options history for Autodesk, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Autodesk
- With a volume of 302,883, the price of ADSK is up 0.11% at $253.46.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 36 days.
Professional Analyst Ratings for Autodesk
2 market experts have recently issued ratings for this stock, with a consensus target price of $267.5.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Autodesk, targeting a price of $275.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $260.
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 Autodesk with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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