Analog Devices'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 Analog Devices ADI.

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 ADI, 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 28 uncommon options trades for Analog Devices.

This isn't normal.

The overall sentiment of these big-money traders is split between 57% bullish and 42%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $468,012, and 25 are calls, for a total amount of $2,993,472.

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 $180.0 and $300.0 for Analog Devices, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Analog Devices options trades today is 637.44 with a total volume of 7,171.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Analog Devices's big money trades within a strike price range of $180.0 to $300.0 over the last 30 days.

Analog Devices Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ADI CALL TRADE BEARISH 06/21/24 $220.00 $661.5K 2.6K 813
ADI PUT SWEEP BULLISH 12/20/24 $195.00 $319.0K 13 220
ADI CALL TRADE BULLISH 12/20/24 $300.00 $262.5K 0 0
ADI CALL SWEEP BEARISH 06/21/24 $180.00 $210.8K 601 88
ADI CALL SWEEP BEARISH 06/21/24 $180.00 $188.4K 601 164

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.

Analog Devices's Current Market Status

  • Trading volume stands at 1,864,884, with ADI's price up by 0.78%, positioned at $193.2.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 76 days.

Expert Opinions on Analog Devices

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $211.8.

  • Reflecting concerns, an analyst from Oppenheimer lowers its rating to Outperform with a new price target of $215.
  • An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $205.
  • Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Analog Devices with a target price of $222.
  • Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Overweight with a new price target of $212.
  • In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $205.

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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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