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Investors with a lot of money to spend have taken a bullish stance on Analog Devices (NASDAQ:ADI).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ADI, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 28 uncommon options trades for Analog Devices.
This isn't normal.
The overall sentiment of these big-money traders is split between 57% bullish and 42%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $468,012, and 25 are calls, for a total amount of $2,993,472.
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $180.0 and $300.0 for Analog Devices, spanning the last three months.
In terms of liquidity and interest, the mean open interest for Analog Devices options trades today is 637.44 with a total volume of 7,171.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Analog Devices's big money trades within a strike price range of $180.0 to $300.0 over the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|
ADI | CALL | TRADE | BEARISH | 06/21/24 | $220.00 | $661.5K | 2.6K | 813 |
ADI | PUT | SWEEP | BULLISH | 12/20/24 | $195.00 | $319.0K | 13 | 220 |
ADI | CALL | TRADE | BULLISH | 12/20/24 | $300.00 | $262.5K | 0 | 0 |
ADI | CALL | SWEEP | BEARISH | 06/21/24 | $180.00 | $210.8K | 601 | 88 |
ADI | CALL | SWEEP | BEARISH | 06/21/24 | $180.00 | $188.4K | 601 | 164 |
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.
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $211.8.
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