Automatic Data Processing Unusual Options Activity For August 14
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Automatic Data Processing (NASDAQ:ADP) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 33% bullish and 66% bearish. The whales have been targeting a price range from $200.0 to $280.0 for ADP over the last 3 months. Morgan Stanley and Barclays have maintained their Equal-Weight and Overweight ratings on ADP, respectively, with price targets of $260 and $285.
August 14, 2023 | 8:46 pm
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A large investor has taken a significant bearish stance on Automatic Data Processing (NASDAQ:ADP), which could potentially impact the stock's price in the short term.
The unusual options activity indicates that a large investor is expecting the price of ADP to decrease. This bearish sentiment, especially if it's based on insider information, could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100