ON Semiconductor's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish stance on ON Semiconductor ON.

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 ON, 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 8 uncommon options trades for ON Semiconductor.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $392,783, and 4 are calls, for a total amount of $160,539.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $45.0 for ON Semiconductor over the last 3 months.

Analyzing 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 ON Semiconductor'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 ON Semiconductor's whale trades within a strike price range from $35.0 to $45.0 in the last 30 days.

ON Semiconductor Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About ON Semiconductor

Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and the largest supplier of image sensors to the automotive market. While the firm used to be highly vertically integrated, it now pursues a hybrid manufacturing strategy for flexible capacity. Onsemi is pivoting to focus on emerging applications like electric vehicles, autonomous vehicles, industrial automation, and renewable energy.

Having examined the options trading patterns of ON Semiconductor, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

ON Semiconductor's Current Market Status

• With a trading volume of 3,086,858, the price of ON is down by -4.23%, reaching $42.29.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 48 days from now.

Professional Analyst Ratings for ON Semiconductor

In the last month, 5 experts released ratings on this stock with an average target price of $52.6.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for ON Semiconductor, targeting a price of $52. * An analyst from Citigroup has decided to maintain their Neutral rating on ON Semiconductor, which currently sits at a price target of $52. * An analyst from Rosenblatt persists with their Neutral rating on ON Semiconductor, maintaining a target price of $49. * An analyst from Craig-Hallum has decided to maintain their Hold rating on ON Semiconductor, which currently sits at a price target of $50. * Consistent in their evaluation, an analyst from Roth MKM keeps a Buy rating on ON Semiconductor with a target price of $60.

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 ON Semiconductor with Benzinga Pro for real-time alerts.