A massive financial move on Adobe (NASDAQ:ADBE) has caught our eye. Is this a single high-roller or a big institution making the play? Hard to tell. But such moves typically signal that someone in-the-know expects changes on the horizon.
Digging Into The Details:
Today’s Activity: 25 unusual options trades related to Adobe.
Sentiment Breakdown: A 28% bullish and a whopping 72% bearish sentiment among these high-roller trades.
The Money Talk: Of the trades, 13 were puts amounting to $979,467, and 12 were calls coming to a total of $640,726.
Price Point Predictions:
Based on Volume and Open Interest, it seems that for the past quarter, the ‘big players’ are forecasting Adobe’s price to oscillate between $320.0 and $680.0.
Last 30 Days’ Volume & Open Interest Glimpse:
Over the past month, for Adobe’s options falling within the $320.0 to $680.0 strike price, we’ve seen a certain trend in volume and open interest. For the curious, here’s a snapshot of some of the heftiest trades:
Top Trades:
ADBE PUT, bullish stance, expiring 06/21/24 at a $460.00 strike price, costing $201.0K.
ADBE PUT, neutral sentiment, with a 01/17/25 expiration at a $350.00 strike price, for $178.5K.
ADBE PUT, bearish vibe, set for 12/15/23 expiration at a $475.00 strike price, taking $177.0K out of someone’s pocket.
Where’s Adobe At?
As of now, Adobe’s stock price stands at $508.45, witnessing a slight dip of -1.43%. The RSI indicators suggest it’s pretty neutral, neither overbought nor oversold. And, keep your eyes peeled! In about 34 days, Adobe is set to release its next earnings.
Analyst Input:
Morgan Stanley seems to be riding the Adobe wave, bumping up its rating to ‘Overweight’ and setting a price target at $660.
Final Thought: Options are a high-stakes game, promising more rewards but with heightened risks. Successful options players typically stay informed, diversify their strategies, and keep their finger on the market’s pulse. If you’re stepping into this arena, gear up and stay updated.