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 48 strange trades.
If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 19 are puts, for a total amount of $2,636,964 and 29, calls, for a total amount of $1,651,521.
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 $150.0 for Qualcomm over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $65.0 to $150.0 in the last 30 days.
Qualcomm Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| QCOM | PUT | TRADE | BULLISH | 08/18/23 | $110.00 | $1.0M | 345 | 1.8K |
| QCOM | PUT | SWEEP | BEARISH | 01/19/24 | $150.00 | $359.8K | 2.0K | 251 |
| QCOM | PUT | SWEEP | BEARISH | 01/19/24 | $150.00 | $222.7K | 2.0K | 452 |
| QCOM | CALL | SWEEP | BEARISH | 06/16/23 | $114.00 | $166.1K | 490 | 503 |
| QCOM | CALL | SWEEP | BEARISH | 07/21/23 | $120.00 | $161.3K | 3.2K | 384 |
Where Is Qualcomm Standing Right Now?
- With a volume of 5,312,514, the price of QCOM is down -2.9% at $112.64.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 56 days.
What The Experts Say On Qualcomm:
- TD Cowen has decided to maintain their Outperform rating on Qualcomm, which currently sits at a price target of $135.
- Deutsche Bank has decided to maintain their Buy rating on Qualcomm, which currently sits at a price target of $130.
- Citigroup has decided to maintain their Neutral rating on Qualcomm, which currently sits at a price target of $110.
- Morgan Stanley has decided to maintain their Overweight rating on Qualcomm, which currently sits at a price target of $125.
- Baird has decided to maintain their Outperform rating on Qualcomm, which currently sits at a price target of $130.
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 Qualcomm, Benzinga Pro gives you real-time options trades alerts.