Whales with a lot of money to spend have taken a noticeably bullish stance on Adobe.
Looking at options history for Adobe (NASDAQ:ADBE) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $70,553 and 8, calls, for a total amount of $409,178.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $295.0 and $570.0 for Adobe, spanning the last 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 $295.0 to $570.0 in the last 30 days.
Adobe Call and Put Volume: 30-Day Overview
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 | TRADE | BULLISH | 09/20/24 | $33.7 | $30.55 | $32.79 | $565.00 | $163.9K | 449 | 0 |
| ADBE | CALL | TRADE | BEARISH | 10/18/24 | $77.4 | $74.35 | $74.35 | $510.00 | $52.0K | 82 | 0 |
| ADBE | CALL | TRADE | BULLISH | 12/18/26 | $141.5 | $137.05 | $141.5 | $570.00 | $42.4K | 31 | 0 |
| ADBE | PUT | SWEEP | BULLISH | 07/19/24 | $4.9 | $3.8 | $3.8 | $555.00 | $36.1K | 903 | 20 |
| ADBE | CALL | TRADE | BULLISH | 07/19/24 | $34.5 | $31.05 | $34.5 | $532.50 | $34.5K | 30 | 0 |
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?
- Currently trading with a volume of 196,995, the ADBE's price is up by 1.02%, now at $564.78.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 59 days.
What The Experts Say On Adobe
In the last month, 2 experts released ratings on this stock with an average target price of $647.5.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Adobe, targeting a price of $635.
- An analyst from Bernstein has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $660.
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.