Smart Money Is Betting Big In QCOM Options

Financial giants have made a conspicuous bullish move on Qualcomm. Our analysis of options history for Qualcomm QCOM revealed 8 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $64,911, and 6 were calls, valued at $917,200.

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 $165.0 to $185.0 for Qualcomm during the past quarter.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Qualcomm's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Qualcomm's substantial trades, within a strike price spectrum from $165.0 to $185.0 over the preceding 30 days.

Qualcomm Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
QCOM CALL SWEEP BEARISH 07/19/24 $6.3 $6.2 $6.21 $185.00 $310.7K 2.2K 891
QCOM CALL TRADE BULLISH 07/19/24 $6.3 $6.3 $6.3 $185.00 $189.0K 2.2K 891
QCOM CALL TRADE BEARISH 07/19/24 $6.65 $6.5 $6.55 $185.00 $131.0K 2.2K 0
QCOM CALL TRADE BULLISH 07/19/24 $6.4 $6.4 $6.4 $185.00 $128.0K 2.2K 390
QCOM CALL SWEEP BEARISH 07/19/24 $6.55 $6.4 $6.5 $185.00 $123.5K 2.2K 200

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.

After a thorough review of the options trading surrounding Qualcomm, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Qualcomm

  • Currently trading with a volume of 739,734, the QCOM's price is down by -0.27%, now at $180.06.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 83 days.

What Analysts Are Saying About Qualcomm

5 market experts have recently issued ratings for this stock, with a consensus target price of $188.2.

  • An analyst from Wolfe Research persists with their Outperform rating on Qualcomm, maintaining a target price of $200.
  • Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Qualcomm, targeting a price of $175.
  • Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Qualcomm with a target price of $206.
  • In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $190.
  • Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Qualcomm with a target price of $170.

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 Qualcomm, Benzinga Pro gives you real-time options trades alerts.

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