Unpacking the Latest Options Trading Trends in Qualcomm
Portfolio Pulse from Benzinga Insights
Recent options trading trends indicate a bearish stance on Qualcomm (NASDAQ:QCOM) by significant investors, with a split sentiment of 39% bullish and 60% bearish. Uncommon options trades were spotted, including 7 puts and 62 calls, aiming for a price range of $115 to $210 over the next three months. The largest trades observed were mainly calls with varying sentiments. Qualcomm's current market position shows a 2.31% decrease in stock price to $157.71, with an upcoming earnings report in 12 days. Analyst ratings in the last 30 days have set an average price target of $194.25 for Qualcomm.
April 19, 2024 | 4:45 pm
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Significant bearish options trading activity observed in Qualcomm, with a notable volume of calls and puts indicating a price target range of $115 to $210. The stock is currently down 2.31% at $157.71, with an average analyst price target of $194.25.
The bearish sentiment from significant investors, combined with the current stock price decrease and the upcoming earnings report, suggests potential short-term downward pressure on Qualcomm's stock price. The large volume of options trades, especially the bearish ones, indicates that investors are preparing for price movements within the specified range, which could lead to increased volatility. Analyst ratings provide a mixed outlook but generally support a higher price target, which may mitigate some bearish sentiment in the longer term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100