This Is What Whales Are Betting On ON Semiconductor

Someone with a lot of money to spend has taken a bearish stance on ON Semiconductor ON.

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 ON, 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 31 uncommon options trades for ON Semiconductor.

This isn't normal.

The overall sentiment of these big-money traders is split between 32% bullish and 67%, bearish.

Out of all of the special options we uncovered, 23 are puts, for a total amount of $1,213,342, and 8 are calls, for a total amount of $419,637.

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 $60.0 to $95.0 for ON Semiconductor over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for ON Semiconductor options trades today is 588.7 with a total volume of 5,246.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for ON Semiconductor's big money trades within a strike price range of $60.0 to $95.0 over the last 30 days.

ON Semiconductor 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
ON PUT SWEEP BULLISH 05/05/23 $60.00 $121.9K 1.2K 1.7K
ON CALL SWEEP BULLISH 09/15/23 $80.00 $106.1K 369 124
ON PUT TRADE BEARISH 04/06/23 $86.00 $83.2K 85 80
ON PUT TRADE NEUTRAL 07/21/23 $70.00 $78.5K 405 151
ON PUT TRADE BEARISH 04/06/23 $85.00 $75.7K 170 85

Where Is ON Semiconductor Standing Right Now?

  • With a volume of 5,800,299, the price of ON is down -1.79% at $76.42.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 35 days.

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


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Posted In: OptionsMarketsBZI-UOA