Adobe's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Investors have taken a bearish stance on Adobe (NASDAQ:ADBE) as indicated by unusual options activity. Benzinga's options scanner detected 14 uncommon trades, with a split sentiment of 21% bullish and 35% bearish. The targeted price range for Adobe is between $450.0 and $540.0. Currently, Adobe's stock is trading at $484.0, up by 0.45%, with an RSI suggesting it may be approaching overbought territory.
May 22, 2024 | 3:46 pm
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Unusual options activity for Adobe (NASDAQ:ADBE) indicates a bearish sentiment among big-money traders. The targeted price range is $450.0 to $540.0. Currently, Adobe's stock is trading at $484.0, up by 0.45%, with an RSI suggesting it may be approaching overbought territory.
The detection of unusual options activity with a predominantly bearish sentiment suggests that investors expect a potential decline in Adobe's stock price. The targeted price range and current RSI readings further support this outlook.
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IMPORTANCE 80
RELEVANCE 100