Adobe Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Adobe (NASDAQ:ADBE) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 42% bullish and 57% bearish. The whales have been targeting a price range from $200.0 to $800.0 for Adobe over the last 3 months. B of A Securities and Morgan Stanley have upgraded their actions to Buy and Overweight respectively, with price targets of $630 and $660.
August 29, 2023 | 4:01 pm
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NEUTRAL IMPACT
Unusual options activity indicates a significant bearish stance on Adobe. However, B of A Securities and Morgan Stanley have upgraded their actions with positive price targets.
The unusual options activity indicates a bearish stance on Adobe, which could potentially drive the stock price down in the short term. However, the upgrades from B of A Securities and Morgan Stanley with positive price targets suggest a potential upward movement. Therefore, the short term impact is neutral.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100