Deep-pocketed investors have adopted a bearish approach towards Qualcomm ( QCOM ) , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in QCOM usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Qualcomm ( QCOM ). This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 36% leaning bullish and 63% bearish. Among these notable options, 10 are puts, totaling $946,600, and 12 are calls, amounting to $774,580.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $125.0 and $210.0 for Qualcomm ( QCOM ), spanning the last three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Qualcomm ( QCOM ) options trades today is 1447.89 with a total volume of 2,604.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's ( QCOM ) big money trades within a strike price range of $125.0 to $210.0 over the last 30 days.

Qualcomm Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Qualcomm

Qualcomm ( QCOM ) develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's ( QCOM ) IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm ( QCOM ) also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.

After a thorough review of the options trading surrounding Qualcomm ( QCOM ), we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Qualcomm Standing Right Now?

With a volume of 4,051,507, the price of QCOM is down -0.76% at $157.88.

RSI indicators hint that the underlying stock may be approaching overbought.

Next earnings are expected to be released in 19 days.

Professional Analyst Ratings for Qualcomm

In the last month, 2 experts released ratings on this stock with an average target price of $185.0.

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* Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Qualcomm ( QCOM ), targeting a price of $170.

* An analyst from B of A Securities persists with their Buy rating on Qualcomm ( QCOM ), maintaining a target price of $200.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Qualcomm ( QCOM ) with Benzinga Pro for real-time alerts.