Looking At Adobe’s Recent Unusual Options Activity

Someone with a lot of money to spend has taken a bearish stance on Adobe (NASDAQ:ADBE).

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 ADBE, 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 15 uncommon options trades for Adobe.

This isn’t normal.

The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $209,275, and 11 are calls, for a total amount of $621,582.

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 $200.0 to $440.0 for Adobe over the last 3 months.

Trending: If Trump Were President, Putin Would Have Invaded Poland Too: Scaramucci

Must Read: Trump Lashes Out At Fox News, Rupert Murdoch, Says ‘Time To Get Rid Of Fake News’

Volume & Open Interest Development

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 Adobe’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 Adobe’s whale trades within a strike price range from $200.0 to $440.0 in the last 30 days.

Adobe Option Volume And Open Interest Over Last 30 Days © Provided by Benzinga Options Call Chart Biggest Options Spotted:   Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume ADBE CALL TRADE BULLISH 01/19/24 $200.00 $214.9K 36 14 ADBE PUT SWEEP NEUTRAL 06/16/23 $330.00 $110.2K 759 62 ADBE CALL TRADE BULLISH 01/17/25 $350.00 $74.9K 168 15 ADBE CALL TRADE BEARISH 03/17/23 $345.00 $54.0K 557 144 ADBE PUT TRADE BEARISH 01/19/24 $440.00 $41.4K 592 59 Where Is Adobe Standing Right Now? With a volume of 1,371,905, the price of ADBE is up 2.54% at $341.96. RSI indicators hint that the underlying stock may be approaching oversold. Next earnings are expected to be released in 12 days. What The Experts Say On Adobe: Wolfe Research downgraded its action to Outperform with a price target of $440 UBS has decided to maintain their Neutral rating on Adobe, which currently sits at a price target of $400.

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

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

SPONSORED

Retirement can be a difficult part of life to navigate, and a financial advisor can help. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

This article Looking At Adobe’s Recent Unusual Options Activity originally appeared on Benzinga.com

.