Qualcomm Unusual Options Activity For March 27
Portfolio Pulse from Benzinga Insights
Qualcomm has seen significant options trading activity, with a bullish sentiment from investors. Analysis of 24 trades reveals 62% bullish and 37% bearish expectations. The trading volume and open interest suggest a price target range between $115 and $200. Notable trades include a mix of calls and puts with varying sentiments and expiration dates. Qualcomm, a leader in wireless technology and chip design, has its stock price up 1.41% at $169.42, with potential overbought signals. Two market experts have set a consensus target price at $150, with Cantor Fitzgerald downgrading the stock to Neutral.
March 27, 2024 | 7:45 pm
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NEUTRAL IMPACT
Qualcomm's bullish options activity and expert downgrades suggest mixed market sentiment. With a current price of $169.42 and a target of $150, investors should watch for potential volatility.
The bullish sentiment in options trading, contrasted with analyst downgrades and a set target price below the current stock price, indicates potential short-term volatility. The significant options activity, especially in calls, suggests investor optimism, but the expert opinions and downgrade to Neutral by Cantor Fitzgerald could temper expectations, leading to a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100