High-rolling investors have positioned themselves bearish on Analog Devices ADI, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ADI often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Analog Devices. This is not a typical pattern.
The sentiment among these major traders is split, with 12% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $33,741, and 7 calls, totaling $666,528.
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 $210.0 to $280.0 for Analog Devices during the past quarter.
Insights into Volume & Open Interest
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 Analog Devices'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 Analog Devices's whale trades within a strike price range from $210.0 to $280.0 in the last 30 days.
Analog Devices Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADI | CALL | TRADE | NEUTRAL | 09/20/24 | $10.2 | $9.8 | $10.0 | $210.00 | $300.0K | 605 | 305 |
| ADI | CALL | SWEEP | BEARISH | 01/16/26 | $25.8 | $23.2 | $25.0 | $230.00 | $82.5K | 379 | 33 |
| ADI | CALL | SWEEP | BEARISH | 10/18/24 | $13.0 | $12.8 | $12.8 | $210.00 | $72.9K | 45 | 0 |
| ADI | CALL | SWEEP | BEARISH | 08/16/24 | $3.8 | $3.7 | $3.72 | $210.00 | $65.7K | 141 | 492 |
| ADI | CALL | TRADE | NEUTRAL | 01/17/25 | $2.1 | $1.9 | $2.0 | $280.00 | $60.0K | 377 | 300 |
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.
Following our analysis of the options activities associated with Analog Devices, we pivot to a closer look at the company's own performance.
Current Position of Analog Devices
- Trading volume stands at 2,124,249, with ADI's price up by 2.54%, positioned at $210.08.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 14 days.
What The Experts Say On Analog Devices
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $250.0.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $250.
- An analyst from Barclays persists with their Equal-Weight rating on Analog Devices, maintaining a target price of $250.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Analog Devices, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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