Deep-pocketed investors have adopted a bearish approach towards Adobe (NASDAQ:ADBE), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ADBE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 141 extraordinary options activities for Adobe. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 31% leaning bullish and 68% bearish. Among these notable options, 72 are puts, totaling $3,916,303, and 69 are calls, amounting to $3,732,077.
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 $350.0 to $900.0 for Adobe during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Adobe's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Adobe's substantial trades, within a strike price spectrum from $350.0 to $900.0 over the preceding 30 days.
Adobe Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
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 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).
Having examined the options trading patterns of Adobe, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Adobe
- Currently trading with a volume of 6,310,133, the ADBE's price is up by 4.35%, now at $513.86.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 87 days.
What Analysts Are Saying About Adobe
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $633.2.
- An analyst from DA Davidson has decided to maintain their Buy rating on Adobe, which currently sits at a price target of $685.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Adobe, which currently sits at a price target of $700.
- Consistent in their evaluation, an analyst from HSBC keeps a Hold rating on Adobe with a target price of $511.
- Maintaining their stance, an analyst from TD Cowen continues to hold a Outperform rating for Adobe, targeting a price of $640.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Adobe with a target price of $630.
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 Adobe with Benzinga Pro for real-time alerts.
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