Whales with a lot of money to spend have taken a noticeably bullish stance on Analog Devices.
Looking at options history for Analog Devices (NASDAQ:ADI) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $376,021 and 2, calls, for a total amount of $106,075.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $220.0 and $242.5 for Analog Devices, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Analog Devices options trades today is 367.33 with a total volume of 2,489.00.
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 $220.0 to $242.5 over the last 30 days.
Analog Devices Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADI | PUT | SWEEP | BULLISH | 10/18/24 | $4.7 | $4.6 | $4.7 | $230.00 | $105.7K | 1.0K | 329 |
| ADI | PUT | SWEEP | BULLISH | 10/18/24 | $4.9 | $4.6 | $4.67 | $230.00 | $87.9K | 1.0K | 520 |
| ADI | CALL | SWEEP | BEARISH | 10/18/24 | $14.4 | $13.4 | $13.4 | $222.50 | $79.0K | 7 | 59 |
| ADI | PUT | SWEEP | BEARISH | 10/04/24 | $1.35 | $1.25 | $1.31 | $225.00 | $74.0K | 22 | 737 |
| ADI | PUT | TRADE | BULLISH | 10/18/24 | $4.9 | $4.6 | $4.7 | $230.00 | $39.4K | 1.0K | 104 |
About Analog Devices
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.
Having examined the options trading patterns of Analog Devices, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Analog Devices's Current Market Status With a trading volume of 1,273,839, the price of ADI is down by -0.43%, reaching $231.45. Current RSI values indicate that the stock is is currently neutral between overbought and oversold. Next earnings report is scheduled for 53 days from now. Expert Opinions on Analog Devices
In the last month, 1 experts released ratings on this stock with an average target price of $233.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Truist Securities downgraded its action to Hold with a price target of $233.
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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
