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Market Whales and Their Recent Bets on ADI Options

Author: Benzinga Insights | July 23, 2024 01:17pm

Deep-pocketed investors have adopted a bearish approach towards Analog Devices (NASDAQ:ADI), 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 ADI usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Analog Devices. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 25% leaning bullish and 33% bearish. Among these notable options, 5 are puts, totaling $225,060, and 7 are calls, amounting to $538,426.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $195.0 to $260.0 for Analog Devices over the recent three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Analog Devices's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Analog Devices's significant trades, within a strike price range of $195.0 to $260.0, over the past month.

Analog Devices Option Activity Analysis: Last 30 Days

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
ADI CALL SWEEP NEUTRAL 01/16/26 $55.2 $53.1 $54.2 $200.00 $146.6K 269 27
ADI CALL SWEEP NEUTRAL 01/16/26 $49.3 $47.1 $48.14 $210.00 $130.2K 226 27
ADI PUT SWEEP BULLISH 12/20/24 $10.6 $10.3 $10.4 $220.00 $95.6K 247 92
ADI CALL SWEEP NEUTRAL 01/16/26 $57.3 $56.9 $56.9 $195.00 $73.9K 113 13
ADI CALL SWEEP BEARISH 01/16/26 $55.2 $53.1 $53.27 $200.00 $64.5K 269 30

About Analog Devices

Analog Devices is a leading analog, mixed signal, and digital signal processing chipmaker. The firm has a significant market share lead in converter chips, which are used to translate analog signals to digital and vice versa. The company serves tens of thousands of customers, and more than half of its chip sales are made to industrial and automotive end markets. Analog Devices' chips are also incorporated into wireless infrastructure equipment.

Where Is Analog Devices Standing Right Now?

  • Currently trading with a volume of 1,600,278, the ADI's price is down by -4.27%, now at $229.78.
  • RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
  • Anticipated earnings release is in 29 days.

Professional Analyst Ratings for Analog Devices

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $250.0.

  • An analyst from Barclays has decided to maintain their Equal-Weight rating on Analog Devices, which currently sits at a price target of $250.
  • An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $250.

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 Analog Devices with Benzinga Pro for real-time alerts.

Posted In: ADI

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