What Are Whales Doing With Analog Devices

What Are Whales Doing With Analog Devices

 

Someone with a lot of money to spend has taken a bullish stance on Analog Devices ADI.

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

Today, Benzinga's options scanner spotted 11 options trades for Analog Devices.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.

Out of all of the options we uncovered, 10 are puts, for a total amount of $747,764, and there was 1 call, for a total amount of $46,690.

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 $155.0 to $172.5 for Analog Devices over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Analog Devices options trades today is 1449.0 with a total volume of 3,030.00.

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 $155.0 to $172.5 over the last 30 days.

Analog Devices 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
ADI PUT SWEEP BEARISH 01/19/24 $155.00 $188.1K 11 128
ADI PUT SWEEP BEARISH 01/19/24 $155.00 $143.6K 11 214
ADI PUT TRADE BULLISH 08/19/22 $172.50 $88.5K 1.7K 250
ADI PUT TRADE BEARISH 12/16/22 $170.00 $66.1K 2.0K 70
ADI PUT TRADE BULLISH 08/19/22 $172.50 $61.4K 1.7K 500

Where Is Analog Devices Standing Right Now?

  • With a volume of 1,760,837, the price of ADI is up 0.22% at $170.51.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 96 days.

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 Analog Devices, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets