Behind the Scenes of Adobe's Latest Options Trends

Investors with a lot of money to spend have taken a bearish stance on Adobe ADBE.

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 ADBE, 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 41 uncommon options trades for Adobe.

This isn't normal.

The overall sentiment of these big-money traders is split between 21% bullish and 63%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $394,400, and 32 are calls, for a total amount of $1,579,315.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $610.0 for Adobe over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Adobe's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Adobe's significant trades, within a strike price range of $400.0 to $610.0, over the past month.

Adobe Call and Put Volume: 30-Day Overview

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
ADBE CALL TRADE NEUTRAL 06/14/24 $18.0 $17.15 $17.5 $460.00 $169.7K 373 112
ADBE CALL SWEEP BEARISH 06/14/24 $13.05 $11.2 $11.2 $465.00 $112.0K 649 302
ADBE CALL SWEEP BEARISH 09/20/24 $14.4 $14.1 $14.4 $520.00 $74.8K 148 53
ADBE PUT SWEEP NEUTRAL 06/21/24 $20.0 $19.25 $19.64 $465.00 $66.6K 2.1K 182
ADBE PUT SWEEP NEUTRAL 06/14/24 $18.7 $18.0 $18.34 $465.00 $62.2K 1.7K 195

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, optimizin,g 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).

Current Position of Adobe

  • With a volume of 849,200, the price of ADBE is down -1.07% at $460.45.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 3 days.

What Analysts Are Saying About Adobe

In the last month, 5 experts released ratings on this stock with an average target price of $594.0.

  • An analyst from BMO Capital persists with their Outperform rating on Adobe, maintaining a target price of $525.
  • Reflecting concerns, an analyst from Mizuho lowers its rating to Buy with a new price target of $640.
  • Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Adobe, targeting a price of $625.
  • Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Adobe with a target price of $600.
  • An analyst from Oppenheimer has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $580.

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 Adobe, 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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