Deep-pocketed investors have adopted a bullish 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 39 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 43% leaning bullish and 30% bearish. Among these notable options, 30 are puts, totaling $1,251,667, and 9 are calls, amounting to $453,497.

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 $100.0 and $190.0 for Qualcomm ( QCOM ), spanning the last three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Qualcomm's ( QCOM ) options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Qualcomm's ( QCOM ) substantial trades, within a strike price spectrum from $100.0 to $190.0 over the preceding 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.

Qualcomm's Current Market Status

With a trading volume of 6,026,228, the price of QCOM is up by 1.91%, reaching $141.12.

Current RSI values indicate that the stock is may be approaching oversold.

Next earnings report is scheduled for 75 days from now.

Professional Analyst Ratings for Qualcomm

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $149.8.

An analyst from Mizuho has decided to maintain their Neutral rating on Qualcomm ( QCOM ), which currently sits at a price target of $140.

An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Qualcomm ( QCOM ), which currently sits at a price target of $134.

An analyst from Mizuho persists with their Neutral rating on Qualcomm ( QCOM ), maintaining a target price of $160.

An analyst from Cantor Fitzgerald persists with their Neutral rating on Qualcomm ( QCOM ), maintaining a target price of $135.

In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $180.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements.