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Deep-pocketed investors have adopted a bullish approach towards Qualcomm (NASDAQ:QCOM), 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 QCOM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 36 extraordinary options activities for Qualcomm. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 44% bearish. Among these notable options, 15 are puts, totaling $1,225,932, and 21 are calls, amounting to $2,062,712.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $160.0 to $260.0 for Qualcomm over the last 3 months.
In terms of liquidity and interest, the mean open interest for Qualcomm options trades today is 3247.67 with a total volume of 6,557.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's big money trades within a strike price range of $160.0 to $260.0 over the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
QCOM | CALL | TRADE | BEARISH | 10/18/24 | $8.6 | $8.5 | $8.5 | $230.00 | $765.0K | 7.0K | 243 |
QCOM | PUT | TRADE | BEARISH | 01/17/25 | $6.8 | $6.65 | $6.8 | $175.00 | $476.0K | 2.7K | 0 |
QCOM | CALL | TRADE | BULLISH | 01/17/25 | $32.95 | $32.1 | $32.95 | $190.00 | $296.5K | 1.8K | 21 |
QCOM | PUT | SWEEP | BEARISH | 11/15/24 | $10.95 | $10.8 | $10.95 | $195.00 | $222.2K | 0 | 1 |
QCOM | CALL | TRADE | BEARISH | 08/16/24 | $6.8 | $6.65 | $6.65 | $220.00 | $133.0K | 7.3K | 138 |
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
Having examined the options trading patterns of Qualcomm, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
4 market experts have recently issued ratings for this stock, with a consensus target price of $227.5.
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 Qualcomm options trades with real-time alerts from Benzinga Pro.
Posted In: QCOM