Check Out What Whales Are Doing With ADBE
Portfolio Pulse from Benzinga Insights
Whales have shown a bearish stance on Adobe (NASDAQ:ADBE), with options trading data revealing 76 trades, where 38% were bullish and 46% bearish. The trades included 49 puts and 27 calls, indicating a price target range from $165 to $755 for Adobe. The largest options trades suggest a bearish sentiment, with significant activity in puts over calls. Adobe's current stock price is $494.66, showing a slight increase of 0.22%, and its RSI suggests it may be approaching overbought territory. The anticipated earnings release is in 37 days.
May 07, 2024 | 6:31 pm
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Whales' bearish stance and active options trading suggest potential volatility for Adobe's stock. Current slight uptick contrasts with bearish options sentiment.
The bearish sentiment among whales, indicated by a higher number of puts and the anticipation of Adobe's earnings release, suggests potential short-term downward pressure on ADBE's stock price. However, the current price increase and the broad price target range signal mixed sentiment, adding to the potential for volatility.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100