Autodesk's Options Frenzy: What You Need to Know

Author: Benzinga Insights | July 09, 2024 12:31pm

Investors with a lot of money to spend have taken a bullish stance on Autodesk (NASDAQ:ADSK).

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ADSK, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Autodesk.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 30%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $34,860, and 9, calls, for a total amount of $536,920.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $240.0 to $270.0 for Autodesk over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Autodesk's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Autodesk's substantial trades, within a strike price spectrum from $240.0 to $270.0 over the preceding 30 days.

Autodesk 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ADSK	CALL	TRADE	BULLISH	08/16/24	$5.6	$5.1	$5.4	$250.00	$76.6K	1.5K	432
ADSK	CALL	TRADE	NEUTRAL	08/16/24	$5.6	$5.2	$5.4	$250.00	$69.6K	1.5K	809
ADSK	CALL	TRADE	BEARISH	08/16/24	$5.6	$5.4	$5.4	$250.00	$69.6K	1.5K	575
ADSK	CALL	SWEEP	BULLISH	01/17/25	$13.6	$13.1	$13.6	$270.00	$68.0K	2.0K	0
ADSK	CALL	TRADE	BULLISH	08/16/24	$5.6	$5.1	$5.4	$250.00	$61.0K	1.5K	319

About Autodesk

Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment. Autodesk software enables design, modeling, and rendering needs of these industries. The company has over 4 million paid subscribers across 180 countries.

After a thorough review of the options trading surrounding Autodesk, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Autodesk Standing Right Now?

• Trading volume stands at 785,050, with ADSK's price down by -2.0%, positioned at $243.0.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 43 days.

Expert Opinions on Autodesk

In the last month, 5 experts released ratings on this stock with an average target price of $260.8.

• An analyst from BMO Capital persists with their Market Perform rating on Autodesk, maintaining a target price of $254.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $260.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Autodesk with a target price of $255.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on Autodesk, which currently sits at a price target of $275.
• In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $260.

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 Autodesk options trades with real-time alerts from Benzinga Pro.

Posted In: ADSK