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High-rolling investors have positioned themselves bearish on Analog Devices (NASDAQ:ADI), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ADI often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Analog Devices. This is not a typical pattern.
The sentiment among these major traders is split, with 12% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $33,741, and 7 calls, totaling $666,528.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $210.0 to $280.0 for Analog Devices during the past quarter.
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 Analog Devices'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 Analog Devices's whale trades within a strike price range from $210.0 to $280.0 in the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
ADI | CALL | TRADE | NEUTRAL | 09/20/24 | $10.2 | $9.8 | $10.0 | $210.00 | $300.0K | 605 | 305 |
ADI | CALL | SWEEP | BEARISH | 01/16/26 | $25.8 | $23.2 | $25.0 | $230.00 | $82.5K | 379 | 33 |
ADI | CALL | SWEEP | BEARISH | 10/18/24 | $13.0 | $12.8 | $12.8 | $210.00 | $72.9K | 45 | 0 |
ADI | CALL | SWEEP | BEARISH | 08/16/24 | $3.8 | $3.7 | $3.72 | $210.00 | $65.7K | 141 | 492 |
ADI | CALL | TRADE | NEUTRAL | 01/17/25 | $2.1 | $1.9 | $2.0 | $280.00 | $60.0K | 377 | 300 |
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.
Following our analysis of the options activities associated with Analog Devices, we pivot to a closer look at the company's own performance.
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $250.0.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Analog Devices, Benzinga Pro gives you real-time options trades alerts.
Posted In: ADI