Analog Devices Unusual Options Activity

Someone with a lot of money to spend has taken a bearish stance on Analog Devices ADI.

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 ADI, 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 23 uncommon options trades for Analog Devices.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 69%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $710,496, and 12 are calls, for a total amount of $584,675.

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 $165.0 to $195.0 for Analog Devices over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Analog Devices options trades today is 643.53 with a total volume of 3,850.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Analog Devices's big money trades within a strike price range of $165.0 to $195.0 over the last 30 days.

Analog Devices 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
ADI PUT TRADE NEUTRAL 06/16/23 $165.00 $125.5K 734 329
ADI CALL SWEEP BULLISH 05/05/23 $172.50 $104.4K 0 354
ADI PUT SWEEP BEARISH 05/19/23 $165.00 $95.1K 195 405
ADI PUT SWEEP BULLISH 09/15/23 $180.00 $92.1K 715 64
ADI PUT TRADE BULLISH 05/19/23 $180.00 $72.0K 1.1K 116

Where Is Analog Devices Standing Right Now?

  • With a volume of 2,790,055, the price of ADI is down -2.66% at $175.86.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 20 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 Analog Devices, Benzinga Pro gives you real-time options trades alerts.

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Posted In: OptionsMarketsBZI-UOA
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