Adobe Whale Trades Spotted

Someone with a lot of money to spend has taken a bearish stance on Adobe ADBE.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 32 uncommon options trades for Adobe.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the special options we uncovered, 19 are puts, for a total amount of $944,084, and 13 are calls, for a total amount of $518,065.

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 $340.0 to $550.0 for Adobe over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Adobe'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 Adobe's whale trades within a strike price range from $340.0 to $550.0 in the last 30 days.

Adobe Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ADBE PUT TRADE BULLISH 09/16/22 $440.00 $206.4K 291 52
ADBE PUT TRADE BEARISH 01/20/23 $500.00 $127.8K 952 15
ADBE CALL SWEEP BEARISH 05/13/22 $470.00 $82.5K 8 325
ADBE CALL SWEEP BULLISH 07/15/22 $460.00 $62.4K 249 36
ADBE PUT TRADE BULLISH 09/16/22 $440.00 $55.5K 291 100

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ADBE PUT TRADE BULLISH 09/16/22 $440.00 $206.4K 291 52
ADBE PUT TRADE BEARISH 01/20/23 $500.00 $127.8K 952 15
ADBE CALL SWEEP BEARISH 05/13/22 $470.00 $82.5K 8 325
ADBE CALL SWEEP BULLISH 07/15/22 $460.00 $62.4K 249 36
ADBE PUT TRADE BULLISH 09/16/22 $440.00 $55.5K 291 100

Where Is Adobe Standing Right Now?

  • With a volume of 1,483,948, the price of ADBE is up 1.28% at $450.03.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 70 days.

What The Experts Say On Adobe:

  • Mizuho has decided to maintain their Buy rating on Adobe, which currently sits at a price target of $600.
  • Piper Sandler has decided to maintain their Overweight rating on Adobe, which currently sits at a price target of $545.
  • Jefferies has decided to maintain their Buy rating on Adobe, which currently sits at a price target of $550.
  • Jefferies has decided to maintain their Buy rating on Adobe, which currently sits at a price target of $570.
  • Credit Suisse has decided to maintain their Neutral rating on Adobe, which currently sits at a price target of $525.

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.

Posted In: BZI-UOAOptionsMarkets