Analysis of Recent Unusual Analog Activity – Analog Devices (NASDAQ:ADI)

Investors with a lot of money to spend have taken a bullish stance Analog devices (NASDAQ:ADI).

And retail traders should know this.

We saw this today as positions appeared in the publicly available options history we track at Benzinga.

We don’t know whether they are institutions or just wealthy people. But when something this big happens with ADI, it often means someone knows something is about to happen.

Today, Benzinga’s options scanner detected 16 options trades Analog devices.

It is not normal.

The overall sentiment of these big-money investors is split between 43% bullish and 37% bearish.

Of all the options we discovered, there was 1 put for a total of $97,934 and 15 calls for a total of $3,356,477.

What is the target price?

Analyzing the volume and open interest in these contracts, it appears that large players expected an analog pricing window of $200.0 to $240.0 in the last quarter.

Volume and open interest trends

Evaluating the volume and number of open positions is a strategic step in options trading. These indicators shed light on liquidity and investor interest in Analog Devices options at specific strike prices. The upcoming data visualizes fluctuations in volume and open interest in both calls and puts associated with significant Analog Devices trades within the strike price range of $200.0 to $240.0 over the previous 30 days.

Call volume and sales of analog devices: 30-day overview

Biggest Options Spotted:

Symbol	SEND/CALL	Trade type	Sentiment	To the power of. Date	Ask	Offer	Price	Strike price	Total trading price	Open interest	volume
ADI	CALL	TRADE	NEUTRAL	21/06/24	$22.4	$21.8	$22.13	$210.00	$1.1 million	6.5 thousand	1.2 thousand
ADI	CALL	TRADE	NEUTRAL	20/12/24	$21.50	$20.9	$21.18	$230.00	$1.0 million	229	1.2 thousand
ADI	CALL	TRADE	BEARISH	16/08/24	$18.8	$18.50	$18.50	$220.00	555.0 thousand dollars	18	300
ADI	CALL	TRADE	BULLISH	20/09/24	$37.8	$37.1	$37.7	$200.00	113.1 thousand dollars	428	thirty
ADI	CALL	TRADE	BULLISH	06/07/24	$34.3	$31.3	$33.9	$200.00	101.7 thousand dollars	thirty	0

About analog devices

Analog Devices is a leading manufacturer of analog, mixed and digital signal processing chips. The company has a significant market share in converter chips, which are used to translate analog signals into digital and vice versa. The company serves tens of thousands of customers, and more than half of its chip sales are to industrial and automotive end markets. Analog Devices chips are also used in wireless infrastructure equipment.

After carefully reviewing the options trades around analog devices, we move on to examine the company in more detail. This includes assessing its current market status and performance.

The current market situation of analog devices

• With a trading volume of 1,577,567, the ADI price fell -0.7% to reach $228.4.
• Current RSI values ​​indicate that the stock may be overbought.
• The next earnings report is scheduled in 82 days.

What experts say about analog devices

A total of 5 professional analysts have expressed their opinion on this stock over the last 30 days, setting an average price target of $250.0.

• Consistent with his rating, the UBS analyst maintains a Buy rating on Analog Devices with a $275 price target.
• Maintaining his stance, the Morgan Stanley analyst continues to maintain an Overweight rating on analog devices, setting the price at $260.
• Consistent with his rating, the Barclays analyst maintains an equal weight rating on Analog with a $210 price target.
• The TD Cowen analyst maintains a Buy rating on Analog Devices, maintaining a price target of $270.
• Consistent with his rating, the Barclays analyst maintains an Equal-Weight rating on Analog with a $235 price target.

Options are a riskier asset compared to regular stock trading, but they have greater profit potential. Serious options traders manage this risk by educating themselves daily, increasing their trading volume, tracking more than one indicator, and closely following the markets.

If you want to stay on top of the latest analog options trades, Benzinga Pro has real-time options trade alerts.