Smart Money Is Betting Big In ADBE Options

Author: Benzinga Insights | June 28, 2024 10:02am

Whales with a lot of money to spend have taken a noticeably bearish stance on Adobe.

Looking at options history for Adobe (NASDAQ:ADBE) we detected 13 trades.

If we consider the specifics of each trade, it is accurate to state that 23% of the investors opened trades with bullish expectations and 38% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $89,775 and 11, calls, for a total amount of $1,701,826.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $400.0 to $580.0 for Adobe over the recent three months.

Volume & Open Interest Trends

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 $400.0 to $580.0 in the last 30 days.

Adobe 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ADBE	CALL	SWEEP	BEARISH	07/19/24	$46.15	$42.55	$42.5	$510.00	$1.0M	827	77
ADBE	CALL	SWEEP	NEUTRAL	12/20/24	$42.0	$36.55	$39.42	$580.00	$102.5K	410	0
ADBE	CALL	SWEEP	NEUTRAL	12/20/24	$42.15	$39.35	$39.4	$580.00	$101.7K	410	51
ADBE	CALL	SWEEP	NEUTRAL	09/20/24	$37.1	$32.0	$34.42	$550.00	$89.5K	646	1
ADBE	CALL	SWEEP	BEARISH	09/20/24	$38.55	$34.4	$34.4	$550.00	$89.2K	646	59

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 volume of 563,273, the price of ADBE is up 1.57% at $555.37.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 76 days.

What Analysts Are Saying About Adobe

In the last month, 5 experts released ratings on this stock with an average target price of $573.0.

• Consistent in their evaluation, an analyst from Bernstein keeps a Outperform rating on Adobe with a target price of $660.
• An analyst from Oppenheimer downgraded its action to Outperform with a price target of $580.
• An analyst from Keybanc persists with their Underweight rating on Adobe, maintaining a target price of $450.
• An analyst from Citigroup persists with their Neutral rating on Adobe, maintaining a target price of $550.
• An analyst from TD Cowen persists with their Buy rating on Adobe, maintaining a target price of $625.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Adobe with Benzinga Pro for real-time alerts.

Posted In: ADBE