What Are Whales Doing With Adobe

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 12 uncommon options trades for Adobe.

This isn't normal.

The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $242,240, and 5 are calls, for a total amount of $240,840.

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 $370.0 to $420.0 for Adobe over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Adobe options trades today is 177.38 with a total volume of 329.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Adobe's big money trades within a strike price range of $370.0 to $420.0 over 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 CALL SWEEP BULLISH 11/18/22 $415.00 $58.4K 13 33
ADBE CALL TRADE NEUTRAL 09/23/22 $400.00 $54.4K 87 65
ADBE CALL TRADE BEARISH 06/16/23 $400.00 $51.7K 33 10
ADBE CALL TRADE BEARISH 06/16/23 $390.00 $47.1K 14 0
ADBE PUT SWEEP BEARISH 11/18/22 $420.00 $40.2K 12 10

Where Is Adobe Standing Right Now?

  • With a volume of 283,348, the price of ADBE is down -0.5% at $392.8.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 3 days.

What The Experts Say On Adobe:

  • Mizuho downgraded its action to Neutral with a price target of $440
  • Barclays has decided to maintain their Overweight rating on Adobe, which currently sits at a price target of $440.

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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