Adobe Options Trading: A Deep Dive into Market Sentiment

Author: Benzinga Insights | June 25, 2024 03:03pm

Deep-pocketed investors have adopted a bearish approach towards Adobe (NASDAQ:ADBE), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ADBE usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 63 extraordinary options activities for Adobe. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 38% bearish. Among these notable options, 27 are puts, totaling $3,221,457, and 36 are calls, amounting to $1,403,220.

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 $250.0 to $610.0 for Adobe over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Adobe options trades today is 504.19 with a total volume of 3,571.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Adobe's big money trades within a strike price range of $250.0 to $610.0 over the last 30 days.

Adobe Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ADBE	PUT	TRADE	NEUTRAL	01/17/25	$38.1	$36.05	$37.1	$515.00	$1.1M	106	33
ADBE	PUT	SWEEP	BULLISH	12/20/24	$33.2	$32.75	$32.8	$510.00	$503.0K	42	185
ADBE	PUT	TRADE	BEARISH	09/20/24	$9.35	$8.65	$9.2	$475.00	$257.6K	331	1
ADBE	PUT	SWEEP	NEUTRAL	12/20/24	$33.05	$31.4	$32.77	$510.00	$255.5K	42	90
ADBE	CALL	SWEEP	NEUTRAL	06/28/24	$5.0	$4.95	$5.0	$525.00	$139.0K	642	525

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,g 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).

Having examined the options trading patterns of Adobe, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Adobe Standing Right Now?

• With a trading volume of 1,733,069, the price of ADBE is up by 0.22%, reaching $525.3.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 79 days from now.

Professional Analyst Ratings for Adobe

In the last month, 5 experts released ratings on this stock with an average target price of $585.0.

• Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Adobe with a target price of $625.
• An analyst from Oppenheimer persists with their Outperform rating on Adobe, maintaining a target price of $580.
• Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Adobe with a target price of $650.
• Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Adobe with a target price of $525.
• An analyst from Baird has decided to maintain their Neutral rating on Adobe, which currently sits at a price target of $545.

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.

Posted In: ADBE