Investors with significant funds have taken a bullish position in Qualcomm ( QCOM ) , a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in QCOM usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 8 options transactions for Qualcomm ( QCOM ). This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 50% being bullish and 37% bearish. Of all the options we discovered, 7 are puts, valued at $1,899,427, and there was a single call, worth $82,750.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $160.0 for Qualcomm ( QCOM ) during the past quarter.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Qualcomm's ( QCOM ) options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Qualcomm's ( QCOM ) whale activity within a strike price range from $65.0 to $160.0 in the last 30 days.

Qualcomm Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

Having examined the options trading patterns of Qualcomm ( QCOM ), our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Qualcomm Standing Right Now?

With a volume of 603,866, the price of QCOM is up 1.65% at $148.24.

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

Next earnings are expected to be released in 90 days.

What Analysts Are Saying About Qualcomm

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $191.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.

* An analyst from JP Morgan persists with their Overweight rating on Qualcomm ( QCOM ), maintaining a target price of $190.

* An analyst from UBS persists with their Neutral rating on Qualcomm ( QCOM ), maintaining a target price of $165.

* An analyst from JP Morgan has decided to maintain their Overweight rating on Qualcomm ( QCOM ), which currently sits at a price target of $200.

* An analyst from Piper Sandler has decided to maintain their Overweight rating on Qualcomm ( QCOM ), which currently sits at a price target of $175.

* Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Qualcomm ( QCOM ), targeting a price of $225.

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 Qualcomm ( QCOM ), Benzinga Pro gives you real-time options trades alerts.