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 10 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 20% leaning bullish and 70% bearish. Among these notable options, 6 are puts, totaling $376,061, and 4 are calls, amounting to $367,640.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $230.0 to $290.0 for Analog Devices over the recent three months.
Insights into Volume & Open Interest
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 $230.0 to $290.0 in the last 30 days.
Analog Devices Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADI | CALL | TRADE | BEARISH | 10/04/24 | $3.9 | $3.0 | $3.3 | $245.00 | $198.0K | 0600 | |
| ADI | PUT | SWEEP | BEARISH | 08/30/24 | $2.15 | $0.8 | $1.8 | $235.00 | $93.4K | 451.0K | |
| ADI | PUT | SWEEP | BULLISH | 08/30/24 | $2.55 | $1.2 | $1.55 | $235.00 | $87.4K | 451.0K | |
| ADI | CALL | TRADE | NEUTRAL | 09/13/24 | $8.2 | $7.5 | $7.8 | $230.00 | $68.6K | 1248 | |
| ADI | PUT | SWEEP | BULLISH | 08/30/24 | $3.2 | $2.65 | $2.67 | $235.00 | $68.1K | 452.0K |
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.
Analog Devices's Current Market Status
- Currently trading with a volume of 814,859, the ADI's price is up by 1.08%, now at $233.39.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 81 days.
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.