Autodesk Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Unusual options activity has been detected for Autodesk (NASDAQ:ADSK), with a significant bearish sentiment among high-rolling investors. This could indicate privileged information influencing these trades. The options activity shows a focus on a price range of $250 to $270, with a majority of trades being bearish. Autodesk's stock is currently trading at $254.62, down by 0.92%, and is approaching overbought territory according to RSI readings. Analysts have mixed ratings, with an average target price of $310.5.
August 28, 2024 | 8:16 pm
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Unusual bearish options activity detected for Autodesk, with 60% of trades showing bearish sentiment. This could indicate insider information. The stock is currently down 0.92% and approaching overbought territory. Analysts have mixed ratings with an average target price of $310.5.
The detection of unusual bearish options activity suggests that significant investors may have insider information, potentially leading to a short-term decline in stock price. The stock's current RSI indicates it may be overbought, adding to the potential for a price drop. Analysts' mixed ratings provide a longer-term positive outlook, but the immediate impact is likely negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100