ON Semiconductor Unusual Options Activity
Portfolio Pulse from Benzinga Insights
ON Semiconductor has seen significant options trading activity, with a bearish sentiment prevailing among investors. Analysis of 30 trades shows 40% bullish and 56% bearish positions, with puts outnumbering calls. The trading focuses on a price range of $55.0 to $110.0. The company, a leading supplier of power semiconductors and sensors, is currently trading up 2.49% at $68.03, with neutral RSI readings and an earnings release expected in 3 days. Analysts have mixed views, with target prices ranging from $55 to $104.
April 26, 2024 | 8:01 pm
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NEUTRAL IMPACT
ON Semiconductor's bearish options activity contrasts with its current stock performance, up 2.49% at $68.03. Analysts' target prices vary widely, indicating mixed sentiment.
The bearish options sentiment may create short-term pressure on ON's stock price, but the current positive performance and mixed analyst ratings suggest a neutral short-term impact. The wide range of analyst target prices and the upcoming earnings release add to the uncertainty, making it difficult to predict the stock's short-term direction with high confidence.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100