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Avid Bioservices

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Investors with a lot of money to spend have taken a bullish stance on Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with UBER, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 16 uncommon options trades for Uber Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 56% bullish and 37%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $161,516, and 13 are calls, for a total amount of $758,253.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $80.0 for Uber Technologies over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Uber Technologies stands at 2393.91, with a total volume reaching 3,399.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Uber Technologies, situated within the strike price corridor from $55.0 to $80.0, throughout the last 30 days.
<h3>Uber Technologies 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727106343_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UBER</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.45</td>
<td>$4.35</td>
<td>$4.4</td>
<td>$80.00</td>
<td>$155.3K</td>
<td>9.4K</td>
<td>453</td>
</tr>
<tr>
<td>UBER</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$8.65</td>
<td>$8.5</td>
<td>$8.65</td>
<td>$75.00</td>
<td>$108.1K</td>
<td>568</td>
<td>125</td>
</tr>
<tr>
<td>UBER</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.35</td>
<td>$4.3</td>
<td>$4.35</td>
<td>$80.00</td>
<td>$72.6K</td>
<td>9.4K</td>
<td>1.0K</td>
</tr>
<tr>
<td>UBER</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$5.75</td>
<td>$5.65</td>
<td>$5.65</td>
<td>$75.00</td>
<td>$67.2K</td>
<td>1.1K</td>
<td>139</td>
</tr>
<tr>
<td>UBER</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/18/26</td>
<td>$10.5</td>
<td>$10.25</td>
<td>$10.25</td>
<td>$70.00</td>
<td>$64.5K</td>
<td>32</td>
<td>3</td>
</tr>
</tbody>
</table>

<h3>About Uber Technologies</h3>
Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers. The firm's on-demand technology platform could eventually be used for additional products and services, such as autonomous vehicles, delivery via drones, and Uber Elevate, which, as the firm refers to it, provides "aerial ride-sharing." Uber Technologies is headquartered in San Francisco and operates in over 63 countries with over 150 million users who order rides or food at least once a month.
In light of the recent options history for Uber Technologies, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Uber Technologies</h3>
<ul>
<li>With a volume of 2,889,715, the price of UBER is up 0.18% at $74.07. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 43 days.</li>
</ul>
<h3>What Analysts Are Saying About Uber Technologies</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $89.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Uber Technologies with a target price of $88. 
&#x2A; Consistent in their evaluation, an analyst from Loop Capital keeps a Buy rating on Uber Technologies with a target price of $84. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $90. 
&#x2A; An analyst from Wells Fargo has decided to maintain their Overweight rating on Uber Technologies, which currently sits at a price target of $97. 
&#x2A; An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $90. 
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 Uber Technologies, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

UBER

Decoding Uber Technologies's Options Activity: What's the Big Picture?

Mark Cuban once famously gave <a href="https://www.benzinga.com/personal-finance/24/05/39092288/if-you-use-your-credit-card-you-do-not-want-to-be-rich-warns-mark-cuban-on-the-dave-ramsey-show">memorable financial advice</a>: "Don't use credit cards. If you use a credit card, you don't want to be rich."&nbsp;
He often shares this mantra on his blog and during interviews with financial gurus like Dave Ramsey. It reflects his belief in living within one's means, a solid principle for anyone looking to build wealth.&nbsp;
Ironically, Cuban was in a predicament involving a credit card while <a href="https://www.benzinga.com/personal-finance/24/09/40819379/mark-cuban-personally-called-nba-fans-saying-mavericks-games-are-cheaper-than-taking-the-family-">celebrating his team's</a> 2011 NBA championship victory.
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From selling garbage bags door-to-door as a kid to building a tech empire, <a href="https://www.benzinga.com/personal-finance/24/06/39447720/from-business-sale-to-retirement-wealth-how-mark-cuban-turned-91-of-his-employees-into-millionai">Cuban became a household name</a> through his hard work and savvy investments. His big break came in the 1990s with the sale of Broadcast.com to Yahoo for $5.7 billion, followed by his purchase of the Mavericks for $285 million in 2000. Under his ownership, the team transformed from perennial underperformers to NBA champions, capturing their first title in 2011.
After the championship win, Cuban and his team headed to LIV nightclub in Miami to celebrate in style. He treated himself to an extravagant 15-liter bottle of Armand de Brignac Champagne, often called "Ace of Spades." Priced at $140,000 (or $90,000 according to some sources), it was the perfect way to commemorate the moment. Cuban confidently reached for his American Express Centurion Card – an exclusive credit card for <a href="https://www.benzinga.com/personal-finance/24/09/40711869/how-rich-are-you-heres-the-net-worth-that-defines-upper-middle-and-lower-class">high-net-worth individuals</a>.
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To his surprise, the transaction was declined. Cuban recounted the experience during a 2018 interview on Fox Sports 1's "Fair Game," revealing how he had to call American Express into the back office. "I'm on the phone with them, and they say, ‘Uh, sir, this hasn't been authorized. It's a new card,'" he said, laughing at the absurdity of the situation. "I asked to speak to a supervisor. I was like, ‘Did you see the NBA game tonight? Are you a basketball fan?'"
His humorous approach shone through as he navigated the layers of customer service, eventually reaching someone who understood the context of his extravagant request. "This is Mark Cuban. We just won the championship. Can I please spend some money?" he quipped.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account – start saving better today.</a>
David Grutman, the owner of LIV, chimed in, recalling the chaotic scene: "We were in the back because his credit card was denied."&nbsp;
Cuban often emphasizes that <a href="https://www.benzinga.com/personal-finance/24/09/40920706/billionaire-mark-cuban-says-his-credit-was-so-bad-radio-shack-denied-him-if-you-use-credit-cards">learning to avoid credit cards</a> was one of his toughest financial lessons, but he acknowledges that they can be OK – if used responsibly.&nbsp;
In a 2017 Money.com interview, he noted, "Over time, what I've learned is using a credit card is OK if you pay it off at the end of the month." He added, "Just recognize that the 18% or 20% or 30% you're paying in credit card debt is going to cost you a lot more than you could ever earn anywhere else." While Cuban may not be a fan of credit cards, he knows the right way to handle them when necessary.
Trending: Amid the ongoing EV revolution, previously overlooked low-income communities<a href="https://www.benzinga.com/money/dunamis-1"> now harbor a huge investment opportunity at just $500.</a>
Cuban's ventures have continued to evolve in the years following the championship. In late 2023, he sold his majority stake in the Mavericks for $3.5 billion but retained a minority share and control over basketball operations.
Even billionaires occasionally whip out the plastic for a celebratory splurge, but Cuban's message is simple: if you use credit cards, pay them off fast to dodge interest charges. While most people won't be charging $140,000 bottles of Champagne, his Amex Black Card mishap proves that <a href="https://www.benzinga.com/money/charlie-munger-100k">financial wisdom</a> and indulgence can coexist, even for the ultrawealthy.&nbsp;
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Personal Finance

Mark Cuban's Black Amex Card Was Declined Trying To Buy A $140,000 Bottle Of Champagne After His NBA Team Won Championship

Financial giants have made a conspicuous bearish move on Wells Fargo. Our analysis of options history for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) revealed 12 unusual trades.
Delving into the details, we found 41% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $487,050, and 6 were calls, valued at $199,725.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $70.0 for Wells Fargo during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Wells Fargo's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wells Fargo's substantial trades, within a strike price spectrum from $25.0 to $70.0 over the preceding 30 days.
<h3>Wells Fargo 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727106338_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.2</td>
<td>$4.85</td>
<td>$4.9</td>
<td>$52.50</td>
<td>$220.5K</td>
<td>10.6K</td>
<td style="text-align: right;">450</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$9.95</td>
<td>$9.85</td>
<td>$9.85</td>
<td>$65.00</td>
<td>$91.6K</td>
<td>600</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.15</td>
<td>$5.0</td>
<td>$5.0</td>
<td>$52.50</td>
<td>$75.0K</td>
<td>10.6K</td>
<td style="text-align: right;">510</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$1.26</td>
<td>$1.12</td>
<td>$1.12</td>
<td>$70.00</td>
<td>$56.0K</td>
<td>9.1K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$4.0</td>
<td>$3.95</td>
<td>$4.0</td>
<td>$50.00</td>
<td>$45.2K</td>
<td>12.0K</td>
<td style="text-align: right;">400</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
Having examined the options trading patterns of Wells Fargo, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Wells Fargo</h3>
<ul>
<li>Currently trading with a volume of 3,293,861, the WFC's price is down by -2.1%, now at $55.11. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 18 days.</li>
</ul>
<h3>What Analysts Are Saying About Wells Fargo</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $65.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $65. 
&#x2A; An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $65. 
&#x2A; An analyst from Goldman Sachs has decided to maintain their Buy rating on Wells Fargo, which currently sits at a price target of $65. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Wells Fargo with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

What the Options Market Tells Us About Wells Fargo

Investors with a lot of money to spend have taken a bullish stance on Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with XOM, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 9 uncommon options trades for Exxon Mobil.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $191,716, and 4 are calls, for a total amount of $174,486.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $130.0 for Exxon Mobil, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Exxon Mobil'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 Exxon Mobil's whale trades within a strike price range from $95.0 to $130.0 in the last 30 days. 
<h3>Exxon Mobil 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727106333_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>XOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$1.2</td>
<td>$1.08</td>
<td>$1.08</td>
<td>$130.00</td>
<td>$68.2K</td>
<td>7.6K</td>
<td style="text-align: right;">763</td>
</tr>
<tr>
<td>XOM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$6.55</td>
<td>$6.4</td>
<td>$6.4</td>
<td>$105.00</td>
<td>$64.0K</td>
<td>1.4K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>XOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$3.4</td>
<td>$3.3</td>
<td>$3.4</td>
<td>$117.00</td>
<td>$39.7K</td>
<td>197</td>
<td style="text-align: right;">127</td>
</tr>
<tr>
<td>XOM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$2.01</td>
<td>$1.95</td>
<td>$1.95</td>
<td>$116.00</td>
<td>$39.0K</td>
<td>217</td>
<td style="text-align: right;">340</td>
</tr>
<tr>
<td>XOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$3.3</td>
<td>$3.25</td>
<td>$3.3</td>
<td>$115.00</td>
<td>$37.9K</td>
<td>7.4K</td>
<td style="text-align: right;">11</td>
</tr>
</tbody>
</table>

<h3>About Exxon Mobil</h3>
ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 2.4 million barrels of liquids and 7.7 billion cubic feet of natural gas per day. At the end of 2023, reserves were 16.9 billion barrels of oil equivalent, 66% of which were liquids. The company is one of the world's largest refiners with a total global refining capacity of 4.5 million barrels of oil per day and is one of the world's largest manufacturers of commodity and specialty chemicals.
<h3>Where Is Exxon Mobil Standing Right Now?</h3>
<ul>
<li>With a volume of 3,271,561, the price of XOM is up 0.39% at $115.72. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 32 days.</li>
</ul>
<h3>What Analysts Are Saying About Exxon Mobil</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $140.33333333333334.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Exxon Mobil with a target price of $142. 
&#x2A; An analyst from Mizuho persists with their Neutral rating on Exxon Mobil, maintaining a target price of $130. 
&#x2A; Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Exxon Mobil, targeting a price of $149. 
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 Exxon Mobil, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Decoding Exxon Mobil's Options Activity: What's the Big Picture?

UBS analyst John Nadel maintains Assurant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIZ#NYSE">AIZ</a>) with a Buy and raises the price target from $217 to $224.

Price Target

Analyst Ratings

UBS Maintains Buy on Assurant, Raises Price Target to $224

In the trading world, having the right tools and knowing how to use them correctly can be the difference between success and failure. One such tool is the Average Directional Index (ADX), which is acknowledged as a fundamental indicator for assessing the strength and direction of market trends. This article explores how to best utilize the ADX indicator in systematic trading, illustrated with a practical example using gold futures.
<h3 class="wp-block-heading">What Is The ADX Indicator In Trading?</h3>
The ADX, or Average Directional Index, is a powerful technical analysis tool developed by J. Welles Wilder Jr. in the 1970s. It provides traders with an objective measure of the strength of a market trend, regardless of its direction, using a scale from 0 to 100. A value of 0 indicates maximum market sideways movement, while 100 indicates a strong trend. Essentially, the ADX reveals whether a market is trending strongly or merely consolidating.
Understanding the ADX requires knowing its calculation process:
<ul>
<li>Calculation of the True Range (TR): TR represents the actual price movement range during the period being used for the calculation and is a crucial element for measuring volatility;</li>
<li>Calculation of the Directional Movement Indicators (+DI and -DI): +DI and -DI measure how much the current bar&#8217;s range has exceeded the previous bar&#8217;s range (+DI for highs and -DI for lows). These values are divided by the current bar&#8217;s TR;</li>
<li>Calculation of the Directional Movement Index (DX): DX represents the difference between +DI and -DI, divided by their sum, normalizing the value on a 0 to 100 scale, indicating trend strength;</li>
<li>Calculation of the ADX: The ADX is then derived using an exponential moving average (EMA) of the DX over a specified period (7 bars in the example in Figure 1).</li>
</ul>
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="838" height="444" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134820/image-4.png" alt="" class="wp-image-1376" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134820/image-4.png 838w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134820/image-4-300x159.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134820/image-4-768x407.png 768w" sizes="(max-width: 838px) 100vw, 838px" /></figure>
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="818" height="425" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134848/image-5.png" alt="" class="wp-image-1377" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134848/image-5.png 818w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134848/image-5-300x156.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134848/image-5-768x399.png 768w" sizes="(max-width: 818px) 100vw, 818px" /></figure>
Figure 1 – ADX: Example of TR, +DI, -DI, and DX Calculation over 7 bars
<h3 class="wp-block-heading">How To Use The ADX Indicator For Trading Success</h3>
Oscillators and indicators are popular among discretionary traders for confirmation and signal generation for market entries and exits. However, their effectiveness is often questioned, leading to uncertainty about how to maximize their potential.
From a systematic trader's perspective, let's test the ADX, one of the most renowned indicators, to see if it can genuinely enhance trading results. Rather than using the ADX for entry or exit signals, we can test its effectiveness as an operational filter, starting with a system based on a different signal, such as a classic breakout of the previous day's highs or lows.
<h3 class="wp-block-heading"></h3>
<h3 class="wp-block-heading">Testing A Breakout Strategy For Gold Futures</h3>
Here's a simple trend-following strategy on Gold Futures (symbol GC on CME). The strategy enters long or short at the breakout of the previous session&#8217;s high or low, respectively.
Using a 15-minute bar chart and historical data from 2010 to now, let&#8217;s assume trading excludes the first two hours of the session, thus starting at 8:00 PM (New York time), and avoiding the last hour and a half, thus ending at 3:30 PM. This timeframe reduction helps avoid abnormal movements at session open or close.
We'll set an initial stop loss of $1000 and a take profit of $5000, then analyze the results of this basic strategy using the metrics in Figures 2, 3, and 4.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="938" height="803" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134921/image-6.png" alt="" class="wp-image-1378" style="width:auto;height:450px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134921/image-6.png 938w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134921/image-6-300x257.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134921/image-6-768x657.png 768w" sizes="(max-width: 938px) 100vw, 938px" /></figure>
Figure 2 – Strategy Performance Summary of the basic trading system on gold futures.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="1004" height="575" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134934/image-7.png" alt="" class="wp-image-1379" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134934/image-7.png 1004w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134934/image-7-300x172.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134934/image-7-768x440.png 768w" sizes="(max-width: 1004px) 100vw, 1004px" /></figure>
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="1004" height="515" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134958/image-8.png" alt="" class="wp-image-1380" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134958/image-8.png 1004w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134958/image-8-300x154.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23134958/image-8-768x394.png 768w" sizes="(max-width: 1004px) 100vw, 1004px" /></figure>
Figure 4 – Total Trade Analysis of the basic trading system on gold futures.
Even without any parameter optimization, the strategy looks promising, showing encouraging results and a rising equity line. However, a prolonged sideways period from 2015 to 2019 indicates the need for refinement. Another issue is the average trade value, averaging $71, which in some cases may not be enough to cover commission costs and potential slippage in real trading.
<h3 class="wp-block-heading">Using ADX To Optimize The Gold Futures Strategy Performance</h3>
Without optimizing the strategy parameters, we'll test using the ADX as an operational filter, aiming to enter the market only when the trend strength aligns with our entry logic.
Since ADX ranges from 0 to 100, with 0 indicating maximum sideways movement and 100 indicating a strong trend, we could optimize the ADX threshold level to avoid trading during strong trends (above the threshold), assuming a breakout might follow a period of sideways movement.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1004" height="534" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23135020/image-9.png" alt="" class="wp-image-1381" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23135020/image-9.png 1004w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23135020/image-9-300x160.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23135020/image-9-768x408.png 768w" sizes="(max-width: 1004px) 100vw, 1004px" /></figure>
Figure 5 – Optimizing the ADX threshold value.
Optimization results (Figure 5) show a stable range between ADX values of 50 and 70, with average trade increasing to around $100 and net profit rising. For example, an ADX value of 60 shows a good reduction in maximum drawdown, resulting in a more stable equity line.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1004" height="579" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23135039/image-10.png" alt="" class="wp-image-1382" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23135039/image-10.png 1004w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23135039/image-10-300x173.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23135039/image-10-768x443.png 768w" sizes="(max-width: 1004px) 100vw, 1004px" /></figure>
Figure 6 – Equity Curve of the Trading System for gold futures with ADX Filter.
<h3 class="wp-block-heading">Final Thoughts on Gold Futures Trading with ADX Filter</h3>
Further development could certainly enhance the strategy, but this example aims to demonstrate how a systematic trader should approach the use of indicators. Instead of applying them for entry signals, use them to filter out poor entries, as shown in this example when the trend was already strong (ADX &gt; 60).
Until next time, happy trading!
Andrea Unger

Futures

Using The ADX Indicator In Trading: Practical Gold Futures Example

Monday, Black Diamond Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDTX#NASDAQ">BDTX</a>) reported initial Phase 2 <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40976802/black-diamond-therapeutics-announces-initial-phase-2-data-demonstrating-robust-anti-tumor-activity" rel="noreferrer noopener">data of BDTX-1535</a>.
The data demonstrated encouraging clinical responses and durability of BDTX-1535 in patients with relapsed/refractory epidermal growth factor receptor (EGFR)-mutant (EGFRm) non-small cell lung cancer (NSCLC).
&#8220;Patients often become resistant to osimertinib with the emergence of on-target resistance EGFR mutations,&#8221; said Sergey Yurasov, Chief Medical Officer of Black Diamond Therapeutics. &#8220;Our preliminary Phase 2 data demonstrate the potential of BDTX-1535 to deliver durable responses for these patients.&#8221;
AstraZeneca Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) markets osimertinib as&nbsp;Tagrisso.
Preliminary response rate and durability were assessed in 27 patients at 200 mg with an August 17, 2024, data cutoff, including 22 response-evaluable patients who met protocol eligibility criteria.
The preliminary objective response rate (ORR) for the 22 response-evaluable patients was 36%. Nineteen of these 22 patients expressed known osimertinib resistance mutations.
Of these 19 patients, 8 achieved a response (42%): 5 with a confirmed partial response (PR), including one patient who converted from a PR to an unconfirmed complete response (CR) at 8 months (and awaits confirmatory scan); and 3 with an unconfirmed PR at first scan and awaiting a confirmatory scan. An additional 9 patients experienced stable disease.
Encouraging durability was observed, with a duration of response (DOR) of approximately 8 months or more for the first three patients with PR; 14 of 19 remain on therapy.&nbsp;Mean follow-up time is 4.7 months.
Most adverse events were mild or moderate, and no new safety signals were observed.
200 mg daily selected for pivotal clinical development.&nbsp;
Black Diamond continues to enroll patients in the second—and third-line cohorts and in the first-line setting for patients with non-classical EGFR mutations.
In Q1 2025, the company expects to disclose initial results from the first-line cohort and outline potential registrational paths in the recurrent setting based on FDA feedback.
Price Action: BDTX stock is up 2.21% at $4.86 at the last check on Monday.
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<a href="https://www.meta.com/connect/" title="https://www.meta.com/connect/">https://www.meta.com/connect/</a>

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Denny's Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DENN#NASDAQ">DENN</a>) today announced two key leadership appointments aimed at advancing the company's technological innovation and operational growth. Minh Le has been named senior vice president and chief technology officer, effective September 23, and Christopher Bode will return as president and chief operating officer, effective September 30. These appointments reflect Denny's ongoing commitment to enhancing its technological infrastructure and operational excellence across the brand.
Minh Le, a respected leader in restaurant technology, will serve as senior vice president and chief technology officer for Denny's Corporation. In this role, he will oversee the entire technology ecosystem across both Denny's and Keke's Breakfast Café, with a focus on modernizing and integrating innovative solutions to enhance guest experiences, improving operational efficiencies, and ensuring data security and compliance. Le brings over 25 years of experience in steering large-scale technology transformations for major restaurant brands, including Checkers &amp; Rally's Drive-In Restaurants, CBC Restaurants, Romano's Macaroni Grill, and Darden Restaurants.

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Denny's Announces Key Leadership Appointments, Naming Minh Le As CTO And Christopher Bode As President And COO To Drive Innovation And Operational Growth

Cantor Fitzgerald analyst Andres Sheppard reiterates Rocket Lab USA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) with a Overweight and maintains $7 price target.

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Citigroup analyst Kyle Menges maintains Terex (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEX#NYSE">TEX</a>) with a Neutral and lowers the price target from $60 to $57.

Citigroup Maintains Neutral on Terex, Lowers Price Target to $57

Cantor Fitzgerald analyst Andres Sheppard reiterates Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) with a Overweight and maintains $19 price target.

RIVN

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German Economy Minister Says A Big Part Of The Auto Market Problem Lies In Demand From China, It Doesn't Seem That This Problem Will Be Solved Soon

Cantor Fitzgerald analyst Andres Sheppard reiterates Redwire (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDW#NYSE">RDW</a>) with a Overweight and maintains $6 price target.

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Cantor Fitzgerald analyst Andres Sheppard reiterates Polestar Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) with a Overweight and maintains $3 price target.

PSNY

Cantor Fitzgerald Reiterates Overweight on Polestar Automotive, Maintains $3 Price Target

Earnings week ahead: Adobe, Oracle, Kroger, GameStop and more

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Here's the major earnings after the close today

Avid Bioservices GAAP EPS of -$0.09 misses by $0.03, revenue of $40.17M misses by $0.65M

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Avid Bioservices, Inc. (CDMO) Q1 2025 Earnings Call Transcript

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Avid Bioservices stock rallies 18% after reporting increased backlog

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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Avid Bioservices, Inc. - CDMO

Pomerantz Law Firm Investigates Claims on Behalf of Investors of Avid Bioservices, Inc. - CDMO

Avid Bioservices Earns Committed Badge from EcoVadis for Sustainability Performance

Avid Bioservices to Report Financial Results for Quarter and Fiscal Year Ended April 30, 2024, After Market Close on July 2, 2024

Avid Bioservices Reports Financial Results for Fourth Quarter and Fiscal Year Ended April 30, 2024

Avid Bioservices to Report Financial Results for First Quarter of Fiscal Year 2025 After Market Close on September 9, 2024

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