High-rolling investors have positioned themselves bullish on Autodesk (NASDAQ:ADSK), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ADSK often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Autodesk. This is not a typical pattern.
The sentiment among these major traders is split, with 62% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $120,270, and 7 calls, totaling $1,593,200.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $260.0 and $290.0 for Autodesk, spanning the last three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Autodesk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Autodesk's significant trades, within a strike price range of $260.0 to $290.0, over the past month.
Autodesk Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADSK | CALL | TRADE | BEARISH | 01/17/25 | $22.4 | $22.1 | $22.2 | $280.00 | $333.0K | 2.4K | 400 |
| ADSK | CALL | TRADE | BEARISH | 01/17/25 | $22.9 | $21.4 | $21.6 | $280.00 | $324.0K | 2.4K | 150 |
| ADSK | CALL | TRADE | BULLISH | 12/20/24 | $20.1 | $19.7 | $20.0 | $280.00 | $298.0K | 1.7K | 550 |
| ADSK | CALL | TRADE | BULLISH | 01/17/25 | $22.1 | $21.6 | $21.9 | $280.00 | $219.0K | 2.4K | 150 |
| ADSK | CALL | TRADE | BULLISH | 12/20/24 | $19.6 | $19.0 | $19.4 | $280.00 | $193.9K | 1.7K | 200 |
About Autodesk
Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment. Autodesk software enables design, modeling, and rendering needs of these industries. The company has over 4 million paid subscribers across 180 countries.
After a thorough review of the options trading surrounding Autodesk, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Autodesk
- Currently trading with a volume of 124,313, the ADSK's price is down by -0.43%, now at $288.54.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 28 days.
What The Experts Say On Autodesk
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $306.6666666666667.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.* Reflecting concerns, an analyst from Wells Fargo lowers its rating to Overweight with a new price target of $340.* An analyst from DA Davidson downgraded its action to Neutral with a price target of $260. * An analyst from Morgan Stanley has revised its rating downward to Overweight, adjusting the price target to $320.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Autodesk options trades with real-time alerts from Benzinga Pro.
