Unpacking the Latest Options Trading Trends in Adobe

Adobe Systems Incorporated -0.84% Pre

Adobe Systems Incorporated

ADBE

470.10

470.10

-0.84%

0.00% Pre

Financial giants have made a conspicuous bullish move on Adobe. Our analysis of options history for Adobe (NASDAQ:ADBE) revealed 37 unusual trades.

Delving into the details, we found 56% of traders were bullish, while 43% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $364,075, and 28 were calls, valued at $2,165,553.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $300.0 to $680.0 for Adobe over the recent three months.

Analyzing Volume & Open Interest

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 $300.0 to $680.0 in the last 30 days.

Adobe Option Volume And Open Interest Over Last 30 Days

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 BEARISH 01/19/24 $300.00 $891.0K 184 31
ADBE CALL SWEEP BULLISH 12/29/23 $575.00 $212.5K 320 141
ADBE CALL SWEEP BULLISH 01/19/24 $600.00 $75.4K 2.1K 110
ADBE CALL TRADE BULLISH 01/19/24 $600.00 $67.2K 2.1K 58
ADBE PUT TRADE BEARISH 06/21/24 $570.00 $65.7K 134 20

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).

Current Position of Adobe

  • Currently trading with a volume of 552,175, the ADBE's price is up by 0.1%, now at $596.09.
  • RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
  • Anticipated earnings release is in 75 days.

What Analysts Are Saying About Adobe

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $672.0.

  • Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Adobe with a target price of $675.
  • An analyst from KGI Securities upgraded its action to Outperform with a price target of $730.
  • In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $615.
  • An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $650.
  • Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Adobe with a target price of $690.

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.

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