Whales with a lot of money to spend have taken a noticeably bearish stance on Adobe.

Looking at options history for Adobe we detected 26 trades.

If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 57% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $611,973 and 17, calls, for a total amount of $1,338,990.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $250.0 to $540.0 for Adobe over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Adobe stands at 492.36, with a total volume reaching 1,107.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Adobe, situated within the strike price corridor from $250.0 to $540.0, throughout the last 30 days.

Adobe 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Adobe

Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing, and engaging with compelling content multiple operating systems, devices, and media. The company operates with three segments: digital media content creation, digital experience for marketing solutions, and publishing for legacy products (less than 5% of revenue).

In light of the recent options history for Adobe, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Adobe

Trading volume stands at 2,021,019, with ADBE's price up by 0.62%, positioned at $380.83.

RSI indicators show the stock to be may be approaching oversold.

Earnings announcement expected in 70 days.

What Analysts Are Saying About Adobe

5 market experts have recently issued ratings for this stock, with a consensus target price of $471.0.

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* An analyst from Mizuho has decided to maintain their Outperform rating on Adobe, which currently sits at a price target of $530.

* An analyst from Evercore ISI Group downgraded its action to Outperform with a price target of $475.

* In a cautious move, an analyst from BMO Capital downgraded its rating to Outperform, setting a price target of $450.

* An analyst from B of A Securities has decided to maintain their Buy rating on Adobe, which currently sits at a price target of $475.

* Consistent in their evaluation, an analyst from Baird keeps a Neutral rating on Adobe with a target price of $425.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Adobe, Benzinga Pro gives you real-time options trades alerts.