Looking At Qualcomm's Recent Unusual Options Activity

Looking At Qualcomm's Recent Unusual Options Activity

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

Looking at options history for Qualcomm QCOM we detected 22 strange trades.

If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.

From the overall spotted trades, 13 are puts, for a total amount of $1,560,070 and 9, calls, for a total amount of $2,821,439.

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 03/17/23 $130.00 $174.9K 1.1K 210
QCOM PUT SWEEP BEARISH 03/17/23 $130.00 $143.1K 1.1K 99

Where Is Qualcomm Standing Right Now?

  • With a volume of 4,718,783, the price of QCOM is down -3.94% at $121.05.
  • 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:

  • Deutsche Bank has decided to maintain their Buy rating on Qualcomm, which currently sits at a price target of $150.
  • Rosenblatt has decided to maintain their Buy rating on Qualcomm, which currently sits at a price target of $170.
  • Wells Fargo has decided to maintain their Equal-Weight rating on Qualcomm, which currently sits at a price target of $105.
  • Deutsche Bank has decided to maintain their Buy rating on Qualcomm, which currently sits at a price target of $160.
  • Credit Suisse downgraded its action to Outperform with 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