Whales with a lot of money to spend have taken a noticeably bearish stance on Adobe.
Looking at options history for Adobe ADBE we detected 28 trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.
From the overall spotted trades, 12 are puts, for a total amount of $449,226 and 16, calls, for a total amount of $1,371,064.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $300.0 to $650.0 for Adobe over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Adobe's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Adobe's significant trades, within a strike price range of $300.0 to $650.0, over the past month.
Adobe Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | CALL | TRADE | NEUTRAL | 02/16/24 | $570.00 | $591.0K | 633 | 356 |
| ADBE | CALL | TRADE | NEUTRAL | 01/19/24 | $380.00 | $188.6K | 680 | 10 |
| ADBE | CALL | TRADE | NEUTRAL | 01/17/25 | $550.00 | $94.4K | 129 | 10 |
| ADBE | CALL | SWEEP | BULLISH | 06/21/24 | $550.00 | $63.7K | 577 | 11 |
| ADBE | PUT | SWEEP | BEARISH | 01/12/24 | $555.00 | $61.8K | 271 | 46 |
About Adobe
Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing and engaging with compelling content multiple operating systems, devices and media. The company operates with three segments: digital media content creation, digital experience for marketing solutions, and publishing for legacy products (less than 5% of revenue).
Present Market Standing of Adobe
- With a volume of 810,739, the price of ADBE is down -0.13% at $566.3.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 68 days.
Expert Opinions on Adobe
5 market experts have recently issued ratings for this stock, with a consensus target price of $666.0.
- An analyst from BMO Capital has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $690.
- An analyst from Barclays upgraded its action to Overweight with a price target of $700.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $615.
- In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $650.
- Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Adobe with a target price of $675.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Adobe options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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