This Is What Whales Are Betting On Adobe

This Is What Whales Are Betting On 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 18 uncommon options trades for Adobe.

This isn't normal.

The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.

Out of all of the special options we uncovered, 16 are puts, for a total amount of $843,908, and 2 are calls, for a total amount of $178,800.

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 $230.0 to $840.0 for Adobe over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $230.0 to $840.0 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 NEUTRAL 01/20/23 $570.00 $146.6K 58 0
ADBE CALL TRADE BULLISH 10/07/22 $260.00 $115.2K 85 60
ADBE PUT TRADE NEUTRAL 01/20/23 $840.00 $112.5K 24 2
ADBE PUT TRADE NEUTRAL 01/20/23 $485.00 $104.5K 787 18
ADBE PUT TRADE BEARISH 04/21/23 $385.00 $66.6K 96 0

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ADBE PUT TRADE NEUTRAL 01/20/23 $570.00 $146.6K 58 0
ADBE CALL TRADE BULLISH 10/07/22 $260.00 $115.2K 85 60
ADBE PUT TRADE NEUTRAL 01/20/23 $840.00 $112.5K 24 2
ADBE PUT TRADE NEUTRAL 01/20/23 $485.00 $104.5K 787 18
ADBE PUT TRADE BEARISH 04/21/23 $385.00 $66.6K 96 0

Where Is Adobe Standing Right Now?

  • With a volume of 1,278,923, the price of ADBE is down -1.79% at $276.35.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 77 days.

What The Experts Say On Adobe:

  • Barclays downgraded its action to Equal-Weight with a price target of $340
  • MoffettNathanson downgraded its action to Hold with a price target of $354
  • Wolfe Research has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $340.
  • Wells Fargo downgraded its action to Equal-Weight with a price target of $310
  • Mizuho has decided to maintain their Neutral rating on Adobe, which currently sits at a price target of $360.

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