Investors with significant funds have taken a bullish position in Qualcomm (NASDAQ:QCOM), a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in QCOM usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 8 options transactions for Qualcomm. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 50% being bullish and 37% bearish. Of all the options we discovered, 7 are puts, valued at $1,899,427, and there was a single call, worth $82,750.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $160.0 for Qualcomm during the past quarter.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Qualcomm's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Qualcomm's whale activity within a strike price range from $65.0 to $160.0 in the last 30 days.

Qualcomm Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Qualcomm

Having examined the options trading patterns of Qualcomm, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Qualcomm Standing Right Now?

• With a volume of 603,866, the price of QCOM is up 1.65% at $148.24.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 90 days.

What Analysts Are Saying About Qualcomm

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $191.0.

Unusual Options Activity Detected: Smart Money on the Move

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.