Smart Money Bets Big on ADI Options – Analog Devices (NASDAQ:ADI)

High-volume investors have become bullish on Analog Devices ( NASDAQ:ADI ) and retail investors should take note. This activity came to our attention today thanks to Benzinga’s tracking of publicly available options data. The identity of these investors is uncertain, but such significant movement in ADI often signals that someone has confidential information.

Today, Benzinga’s Options Scanner detected 8 analog options trades. This is not a typical pattern.

The sentiment among these major traders is divided: 37% are bullish and 37% are bearish. Of all the options we identified, there was one put option for $25,200 and 7 call options for a total of $380,060.

Estimated price range

Trading activity shows that significant investors have been targeting the $220.0 to $270.0 price area for analog devices over the past three months.

Volume and open interest trends

In terms of liquidity and interest, Analog Devices Options average open interest is currently 1,441.86 on total volume of 347.00.

In the chart below, we can trace the development of volume and open interest in Analog Devices’ large cash calls and puts in the strike price range of $220.0 to $270.0 over the last 30 days.

Analog device option activity analysis: last 30 days

Significant option transactions detected:

Symbol	SEND/CALL	Trade type	Sentiment	To the power of. Date	Ask	Offer	Price	Strike price	Total trading price	Open interest	volume
ADI	CALL	SWEEP	BULLISH	20/12/24	$6.50	$6.4	$6.4	$270.00	113.9 thousand dollars	51	178
ADI	CALL	SWEEP	BULLISH	21/06/24	$11.0	$10.8	$10.8	$220.00	54.0 thousand dollars	8.2 thousand	100
ADI	CALL	SWEEP	NEUTRAL	21/06/24	$10.9	$10.60	$10.60	$220.00	53.0 thousand dollars	8.2 thousand	0
ADI	CALL	SWEEP	BEARISH	20/06/25	$29.3	$27.0	$29.0	$230.00	52.2 thousand dollars	112	20
ADI	CALL	SWEEP	BEARISH	17/01/25	$27.2	$27.0	$27.0	$220.00	45.9 thousand dollars	776	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.

The current state of the analog devices market

• With a trading volume of 1,376,967, the ADI price increased by 0.64% to reach $229.6.
• Current RSI values ​​indicate that the stock may be overbought.
• The next earnings report will be scheduled for 83 days from now.

What analysts say about analog devices

Five market experts recently issued ratings on this stock, with a consensus price target of $260.0.

• Reinforcing his stance, the Citigroup analyst continues to maintain a Buy rating on analog devices, setting the price at $250.
• Reinforcing his stance, the B of A Securities analyst continues to maintain a Buy rating on the analog devices, setting the price at $260.
• The Jefferies analyst cautiously downgraded the stock to Buy, setting a price target of $250.
• The Susquehanna analyst decided to maintain a positive rating on analog devices, which currently stands at $280.
• The Morgan Stanley analyst decided to maintain his Overweight recommendation for analog devices, which currently stands at $260.

Options trading involves greater risks and potential rewards. Smart investors manage this risk by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay on top of the latest Analog Devices options trades with real-time alerts from Benzinga Pro.