Looking At Qualcomm's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Qualcomm QCOM.

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 QCOM, 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 54 uncommon options trades for Qualcomm.

This isn't normal.

The overall sentiment of these big-money traders is split between 33% bullish and 53%, bearish.

Out of all of the special options we uncovered, 24 are puts, for a total amount of $2,004,324, and 30 are calls, for a total amount of $1,828,889.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $110.0 and $230.0 for Qualcomm, spanning the last three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Qualcomm's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Qualcomm's significant trades, within a strike price range of $110.0 to $230.0, over the past month.

Qualcomm Call and Put Volume: 30-Day Overview

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.

In light of the recent options history for Qualcomm, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Qualcomm

• Currently trading with a volume of 5,637,960, the QCOM's price is down by -4.93%, now at $169.84.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 1 days.

Professional Analyst Ratings for 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 $218.0.

• Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Qualcomm with a target price of $225.
• Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Neutral rating on Qualcomm with a target price of $215.
• Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Qualcomm, targeting a price of $200.
• Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Qualcomm with a target price of $250.
• An analyst from HSBC has revised its rating downward to Hold, adjusting the price target to $200.

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.