Adobe Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bullish stance on Adobe (NASDAQ:ADBE) has been observed through unusual options activity. The sentiment among these big-money traders is split between 60% bullish and 40% bearish. The whales have been targeting a price range from $475.0 to $525.0 for Adobe over the last 3 months. Adobe's current price is up 1.36% at $515.04. Morgan Stanley and B of A Securities have upgraded their actions to Overweight and Buy respectively, with price targets of $660 and $630.
August 21, 2023 | 2:01 pm
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Unusual options activity indicates a bullish stance on Adobe. The company's stock price is up and has received upgrades from Morgan Stanley and B of A Securities.
The unusual options activity, which is heavily skewed towards a bullish stance, combined with the recent upgrades from major financial institutions, indicates a positive short-term impact on Adobe's stock. The current rise in Adobe's stock price further supports this.
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