Financial giants have made a conspicuous bearish move on Qualcomm. Our analysis of options history for Qualcomm (NASDAQ:QCOM) revealed 27 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $514,098, and 14 were calls, valued at $661,332.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $150.0 to $200.0 for Qualcomm over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Qualcomm stands at 1585.5, with a total volume reaching 4,130.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Qualcomm, situated within the strike price corridor from $150.0 to $200.0, throughout the last 30 days.
Qualcomm 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| QCOM | CALL | TRADE | BEARISH | 11/15/24 | $9.9 | $9.75 | $9.75 | $170.00 | $121.8K | 2.0K | 253 |
| QCOM | PUT | SWEEP | BULLISH | 11/15/24 | $8.9 | $8.75 | $8.75 | $165.00 | $92.7K | 1.5K | 144 |
| QCOM | CALL | TRADE | BULLISH | 11/15/24 | $9.25 | $9.2 | $9.25 | $170.00 | $64.7K | 2.0K | 344 |
| QCOM | PUT | TRADE | BULLISH | 01/17/25 | $24.15 | $24.1 | $24.1 | $185.00 | $60.2K | 2.0K | 25 |
| QCOM | CALL | TRADE | BEARISH | 11/15/24 | $5.9 | $5.75 | $5.79 | $180.00 | $57.9K | 1.9K | 363 |
About Qualcomm
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
In light of the recent options history for Qualcomm, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Qualcomm Standing Right Now?
- With a volume of 4,346,871, the price of QCOM is down -1.12% at $167.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 23 days.
Professional Analyst Ratings for Qualcomm
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $210.0.
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.* Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Qualcomm, targeting a price of $210.
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.