Benzinga | Jan 10, 2022 11:39AM EST

Qualcomm Whale Trades For January 10

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

Looking at options history for Qualcomm (NASDAQ:QCOM) we detected 36 strange trades.

If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $643,608 and 29, calls, for a total amount of $2,506,641.

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 $65.0 to $280.0 for Qualcomm 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 Qualcomm'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 Qualcomm's whale activity within a strike price range from $65.0 to $280.0 in the last 30 days.

Qualcomm 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 InterestQCOM CALL TRADE BULLISH 02/18/ $170.00 $290.0K 993 210 22QCOM PUT SWEEP BEARISH 01/14/ $172.50 $267.2K 1.7K 1.5K 22QCOM CALL TRADE NEUTRAL 01/20/ $115.00 $260.4K 689 40 23QCOM CALL TRADE NEUTRAL 04/14/ $140.00 $197.0K 448 83 22QCOM CALL TRADE BEARISH 04/14/ $140.00 $192.5K 448 163 22

Where Is Qualcomm Standing Right Now?

* With a volume of 3,862,988, the price of QCOM is down -2.92% at $175.14.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 23 days.

What The Experts Say On Qualcomm:

* Morgan Stanley has decided to maintain their Overweight rating on Qualcomm, which currently sits at a price target of $215.

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.