Adobe Whale Trades Spotted

Adobe Whale Trades Spotted

A whale with a lot of money to spend has taken a noticeably bearish stance on Adobe.

Looking at options history for Adobe ADBE we detected 65 strange trades.

If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.

From the overall spotted trades, 38 are puts, for a total amount of $2,502,786 and 27, calls, for a total amount of $1,203,175.

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 $170.0 to $570.0 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 $170.0 to $570.0 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 12/16/22 $270.00 $566.2K 740 333
ADBE CALL SWEEP BEARISH 01/20/23 $355.00 $187.8K 154 367
ADBE PUT TRADE BEARISH 01/20/23 $525.00 $123.0K 115 5
ADBE PUT TRADE BEARISH 01/20/23 $515.00 $118.2K 32 5
ADBE PUT TRADE NEUTRAL 01/20/23 $400.00 $115.0K 1.5K 20

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ADBE PUT TRADE BULLISH 12/16/22 $270.00 $566.2K 740 333
ADBE CALL SWEEP BEARISH 01/20/23 $355.00 $187.8K 154 367
ADBE PUT TRADE BEARISH 01/20/23 $525.00 $123.0K 115 5
ADBE PUT TRADE BEARISH 01/20/23 $515.00 $118.2K 32 5
ADBE PUT TRADE NEUTRAL 01/20/23 $400.00 $115.0K 1.5K 20

Where Is Adobe Standing Right Now?

  • With a volume of 4,936,363, the price of ADBE is down -2.46% at $277.55.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 80 days.

What The Experts Say On Adobe:

  • BMO Capital has decided to maintain their Market Perform rating on Adobe, which currently sits at a price target of $345.
  • Citigroup has decided to maintain their Neutral rating on Adobe, which currently sits at a price target of $388.
  • Deutsche Bank has decided to maintain their Buy rating on Adobe, which currently sits at a price target of $400.
  • RBC Capital has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $425.
  • MoffettNathanson downgraded its action to Hold with a price target of $354

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.

Posted In: BZI-UOAOptionsMarkets