Behind the Scenes of Adobe's Latest Options Trends

Author: Benzinga Insights | April 10, 2024 03:16pm

Financial giants have made a conspicuous bearish move on Adobe. Our analysis of options history for Adobe (NASDAQ:ADBE) revealed 32 unusual trades.

Delving into the details, we found 40% of traders were bullish, while 59% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $746,906, and 19 were calls, valued at $1,037,766.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $165.0 and $740.0 for Adobe, spanning the last three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Adobe's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Adobe's significant trades, within a strike price range of $165.0 to $740.0, over the past month.

Adobe Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ADBE	CALL	SWEEP	BULLISH	01/17/25	$58.15	$57.75	$58.15	$500.00	$157.0K	353	0
ADBE	PUT	SWEEP	BEARISH	01/17/25	$54.7	$54.2	$54.7	$500.00	$125.8K	1.7K	28
ADBE	PUT	SWEEP	BEARISH	01/17/25	$54.55	$54.45	$54.55	$500.00	$125.3K	1.7K	97
ADBE	PUT	SWEEP	BEARISH	01/17/25	$56.1	$54.15	$54.15	$500.00	$124.5K	1.7K	74
ADBE	CALL	SWEEP	BULLISH	01/17/25	$53.85	$53.75	$53.75	$510.00	$96.7K	156	36

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 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).

Where Is Adobe Standing Right Now?

• With a trading volume of 1,577,828, the price of ADBE is down by -1.38%, reaching $485.76.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 64 days from now.

What The Experts Say On Adobe

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $602.2.

• An analyst from BMO Capital persists with their Outperform rating on Adobe, maintaining a target price of $610.
• Consistent in their evaluation, an analyst from HSBC keeps a Hold rating on Adobe with a target price of $511.
• An analyst from Oppenheimer downgraded its action to Outperform with a price target of $660.
• An analyst from JP Morgan persists with their Neutral rating on Adobe, maintaining a target price of $570.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $660.

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 Adobe, Benzinga Pro gives you real-time options trades alerts.

Posted In: ADBE