This Is What Whales Are Betting On Automatic Data Processing

This Is What Whales Are Betting On Automatic Data Processing

Someone with a lot of money to spend has taken a bearish stance on Automatic Data Processing ADP.

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 ADP, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 18 options trades for Automatic Data Processing.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $62,323, and 17, calls, for a total amount of $1,131,877..

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 $160.0 to $240.0 for Automatic Data Processing 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 Automatic Data Processing'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 Automatic Data Processing's whale trades within a strike price range from $160.0 to $240.0 in the last 30 days.

Automatic Data Processing 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
ADP CALL TRADE BULLISH 08/26/22 $225.00 $232.0K 149 145
ADP CALL TRADE BULLISH 08/19/22 $220.00 $165.0K 636 102
ADP CALL SWEEP BEARISH 08/19/22 $222.50 $130.5K 115 12
ADP CALL SWEEP BULLISH 01/19/24 $240.00 $75.0K 65 25
ADP CALL TRADE BULLISH 01/20/23 $160.00 $69.4K 208 9

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ADP CALL TRADE BULLISH 08/26/22 $225.00 $232.0K 149 145
ADP CALL TRADE BULLISH 08/19/22 $220.00 $165.0K 636 102
ADP CALL SWEEP BEARISH 08/19/22 $222.50 $130.5K 115 12
ADP CALL SWEEP BULLISH 01/19/24 $240.00 $75.0K 65 25
ADP CALL TRADE BULLISH 01/20/23 $160.00 $69.4K 208 9

Where Is Automatic Data Processing Standing Right Now?

  • With a volume of 790,830, the price of ADP is up 1.76% at $238.16.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 90 days.

What The Experts Say On Automatic Data Processing:

  • Morgan Stanley has decided to maintain their Equal-Weight rating on Automatic Data Processing, which currently sits at a price target of $245.

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 Automatic Data Processing, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets