Smart Money Is Betting Big In ADI Options

High-rolling investors have positioned themselves bullish 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 37% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $25,200, and 7 calls, totaling $380,060.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $220.0 to $270.0 for Analog Devices over the recent three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Analog Devices options trades today is 1441.86 with a total volume of 347.00.

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 $220.0 to $270.0 over the last 30 days.

Analog Devices Option Activity Analysis: 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
ADI CALL SWEEP BULLISH 12/20/24 $6.5 $6.4 $6.4 $270.00 $113.9K 51 178
ADI CALL SWEEP BULLISH 06/21/24 $11.0 $10.8 $10.8 $220.00 $54.0K 8.2K 100
ADI CALL SWEEP NEUTRAL 06/21/24 $10.9 $10.6 $10.6 $220.00 $53.0K 8.2K 0
ADI CALL SWEEP BEARISH 06/20/25 $29.3 $27.0 $29.0 $230.00 $52.2K 112 20
ADI CALL SWEEP BEARISH 01/17/25 $27.2 $27.0 $27.0 $220.00 $45.9K 776 0

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

  • With a trading volume of 1,376,967, the price of ADI is up by 0.64%, reaching $229.6.
  • Current RSI values indicate that the stock is may be overbought.
  • Next earnings report is scheduled for 83 days from now.

What Analysts Are Saying About Analog Devices

5 market experts have recently issued ratings for this stock, with a consensus target price of $260.0.

  • Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Analog Devices, targeting a price of $250.
  • Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Analog Devices, targeting a price of $260.
  • In a cautious move, an analyst from Jefferies downgraded its rating to Buy, setting a price target of $250.
  • An analyst from Susquehanna has decided to maintain their Positive rating on Analog Devices, which currently sits at a price target of $280.
  • An analyst from Morgan Stanley has decided to maintain their Overweight rating on Analog Devices, which currently sits at a price target of $260.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Analog Devices options trades with real-time alerts from Benzinga Pro.

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