Adobe Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance on Adobe (NASDAQ:ADBE) has been observed, with 72% of big-money traders showing bearish sentiment. The overall sentiment is based on 25 uncommon options trades, with 13 puts and 12 calls. The targeted price range for Adobe over the last 3 months is from $320.0 to $680.0. Adobe's current price is down by 1.43% at $508.45. Morgan Stanley has upgraded its action to Overweight with a price target of $660.
August 11, 2023 | 8:45 pm
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Bearish sentiment observed among big-money traders on Adobe. The targeted price range is from $320.0 to $680.0. Current price is down by 1.43% at $508.45.
The bearish sentiment among big-money traders, as well as the current price drop, indicates a potential short-term negative impact on Adobe's stock. However, the upgrade by Morgan Stanley to Overweight with a price target of $660 provides a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100