Benzinga | Jan 26, 2022 11:03AM EST

What Are Whales Doing With Adobe

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 16 strange trades.

If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $60,315 and 14, calls, for a total amount of $649,365.

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 $300.0 to $640.0 for Adobe over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Adobe options trades today is 253.44 with a total volume of 1,452.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Adobe's big money trades within a strike price range of $300.0 to $640.0 over 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 CALL TRADE BULLISH 01/19/ $300.00 $121.0K 28 5 24ADBE CALL TRADE BEARISH 01/19/ $520.00 $100.0K 54 10 24ADBE CALL TRADE BULLISH 05/20/ $525.00 $47.1K 614 12 22ADBE CALL TRADE BULLISH 04/14/ $520.00 $45.8K 554 25 22ADBE CALL TRADE BEARISH 01/19/ $550.00 $42.5K 89 5 24

Where Is Adobe Standing Right Now?

* With a volume of 889,630, the price of ADBE is up 2.16% at $513.55.

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

* Next earnings are expected to be released in 55 days.

What The Experts Say On Adobe:

* Deutsche Bank has decided to maintain their Buy rating on Adobe, which currently sits at a price target of $660.

* UBS downgraded its action to Neutral with a price target of $575

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.

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