Check Out What Whales Are Doing With ADBE
Portfolio Pulse from Benzinga Insights
Whales have taken a bearish stance on Adobe (NASDAQ:ADBE) with significant options trading activity. Out of 33 trades, 17 were puts and 16 were calls, with a total trade value of $1,217,160 and $1,050,651 respectively. The price range targeted by these trades is between $170.0 and $650.0. Adobe's stock is currently trading at $555.79, up by 0.87%, with an RSI suggesting it may be approaching overbought territory. The anticipated earnings release is in 52 days, and the average target price from analysts is $635.0.
July 22, 2024 | 6:01 pm
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Whales have taken a bearish stance on Adobe with significant options trading activity. The stock is currently trading at $555.79, up by 0.87%, with an RSI suggesting it may be approaching overbought territory. The anticipated earnings release is in 52 days, and the average target price from analysts is $635.0.
The significant bearish options trading activity by whales suggests a negative short-term outlook for Adobe. Despite the current price increase and positive analyst ratings, the RSI indicates the stock may be overbought, which could lead to a price correction. The upcoming earnings release in 52 days adds to the uncertainty.
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IMPORTANCE 80
RELEVANCE 100