Benzinga | Dec 16, 2021 11:46AM EST

Looking At Adobe's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bearish stance on Adobe.

Looking at options history for Adobe (NASDAQ:ADBE) we detected 18 strange trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $544,806 and 7, calls, for a total amount of $267,008.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $510.0 to $700.0 for Adobe over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $510.0 to $700.0 in the last 30 days.

Adobe Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:



Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestADBE PUT TRADE BULLISH 04/14/ $580.00 $204.6K 261 54 22ADBE PUT SWEEP BEARISH 03/18/ $570.00 $53.2K 315 17 22ADBE CALL TRADE BEARISH 01/21/ $615.00 $47.7K 871 299 22ADBE CALL TRADE BEARISH 01/19/ $700.00 $46.9K 43 0 24ADBE PUT SWEEP BEARISH 01/21/ $510.00 $46.0K 484 324 22

Where Is Adobe Standing Right Now?

* With a volume of 2,993,031.00, the price of ADBE is down -8.07% at $579.44.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 0 days.

What The Experts Say On Adobe:

* JP Morgan downgraded its action to Neutral with a price target of $680

* Atlantic Equities upgraded its action to Overweight with a price target of $820

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.