Check Out What Whales Are Doing With QCOM

Check Out What Whales Are Doing With QCOM

Someone with a lot of money to spend has taken a bearish stance on Qualcomm QCOM.

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 QCOM, 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 16 uncommon options trades for Qualcomm.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $1,112,753, and 7 are calls, for a total amount of $2,723,308.

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 $70.0 to $145.0 for Qualcomm 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 Qualcomm'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 Qualcomm's whale activity within a strike price range from $70.0 to $145.0 in the last 30 days.

Qualcomm 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
QCOM CALL TRADE BEARISH 01/20/23 $90.00 $2.2M 7.3K 690
QCOM PUT TRADE BEARISH 06/21/24 $120.00 $824.0K 450 400
QCOM CALL TRADE BEARISH 01/17/25 $120.00 $290.0K 240 357
QCOM PUT SWEEP BEARISH 04/21/23 $130.00 $63.6K 550 38
QCOM CALL SWEEP BULLISH 12/16/22 $130.00 $50.0K 6.5K 2.1K

Where Is Qualcomm Standing Right Now?

  • With a volume of 3,295,892, the price of QCOM is down -3.57% at $121.52.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 77 days.

What The Experts Say On Qualcomm:

  • Rosenblatt has decided to maintain their Buy rating on Qualcomm, which currently sits at a price target of $170.
  • JP Morgan has decided to maintain their Overweight rating on Qualcomm, which currently sits at a price target of $185.
  • Deutsche Bank has decided to maintain their Buy rating on Qualcomm, which currently sits at a price target of $150.
  • Morgan Stanley has decided to maintain their Overweight rating on Qualcomm, which currently sits at a price target of $126.
  • Raymond James has decided to maintain their Strong Buy rating on Qualcomm, which currently sits at a price target of $150.

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

Posted In: BZI-UOAOptionsMarkets