A person with lots of money has adopted a bearish stance regarding Adobe .
Retail traders need to be aware.
This was evident today, when the large position appeared on publicly available options history which we track at Benzinga.
We don’t know if this is an institution, or just one wealthy individual. However, when ADBE experiences something so significant, it usually means that someone knows what is coming.
How do we find out what the whale did?
Today, Benzinga’s option scanner spotted 25 unusual options trades for Adobe.
This is not normal.
These big-money traders are split between bullish and bearish sentiments.
We found 10 puts for $716,783 and 15 calls for $569,781 among all the special options.
What is the Price Target?
The Volume and Open Interest of these contracts indicate that the whales have been targeting Adobe at a price range between $290.0 and $480.0 over the past 3 months.
Volume and Open Interest Development
When trading options are available, it is important to look at open interest and volume. This information can be used to track the liquidity and interest in Adobe’s options at a particular strike price. Below is a chart that shows the evolution of volume and open interest for Adobe’s whale trades. This data covers all Adobe’s whale trades between $290.0 and $480.0. It was taken over the past 30 days.
Adobe Option Volume and Open Interest over the Last 30 Days
The Biggest Options Found:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike price | Total Trade Prices | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | PUT | SWEEP | BEARISH | 01/19/24 | $290.00 | $265.0K | 425 | 100 |
| ADBE | PUT | TRADE | BULLISH | 08/19/22 | $430.00 | $152.6K | 5 | 40 |
| ADBE | CALL | TRADE | BULLISH | 01/20/23 | $390.00 | $78.9K | 292 | 62 |
| ADBE | CALL | TRADE | BEARISH | 01/20/23 | $390.00 | $59.0K | 292 | 42 |
| ADBE | PUT | SWEEP | BULLISH | 07/22/22 | $385.00 | $44.8K | 61 | 38 |
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADBE | PUT | SWEEP | BEARISH | 01/19/24 | $290.00 | $265.0K | 425 | 100 |
| ADBE | PUT | TRADE | BULLISH | 08/19/22 | $430.00 | $152.6K | 5 | 40 |
| ADBE | CALL | TRADE | BULLISH | 01/20/23 | $390.00 | $78.9K | 292 | 62 |
| ADBE | CALL | TRADE | BEARISH | 01/20/23 | $390.00 | $59.0K | 292 | 42 |
| ADBE | PUT | SWEEP | BULLISH | 07/22/22 | $385.00 | $44.8K | 61 | 38 |
Where is Adobe Right Now?
- ADBE’s volume is 1,343,734 and the price is $377.11.
- The RSI indicator indicates that the underlying stock could be overbought.
- The next earnings will be available in 70 days.
Adobe Experts’ Viewpoint
- Evercore ISI Group decided to keep their Adobe Outperform rating at $475.
- Deutsche Bank has decided that they will keep their Buy rating for Adobe at $500.
- Credit Suisse decided to keep their neutral rating on Adobe. The current price target is $425.
- Jefferies has decided that they will keep their Buy rating on Adobe. The price target is currently $500.
- BMO Capital has decided not to change their Outperform rating for Adobe. The current price target is $450.
Options can be more risky than trading stocks, but offer higher potential for profit. This risk is managed by serious options traders who are educated daily, scale in and out trades, follow more than one indicator and closely monitor the markets.
Benzinga Pro provides real-time alerts on options trades for Adobe.
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