Unpacking the Latest Options Trading Trends in Qualcomm
High-rolling investors have positioned themselves bullish on Qualcomm (NASDAQ:QCOM), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in QCOM often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for Qualcomm. This is not a typical pattern.
The sentiment among these major traders is split, with 61% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $131,000, and 12 calls, totaling $909,612.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $140.0 and $230.0 for Qualcomm, spanning the last three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Qualcomm's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Qualcomm's significant trades, within a strike price range of $140.0 to $230.0, over the past month.
Qualcomm Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| QCOM | CALL | SWEEP | BEARISH | 08/16/24 | $15.65 | $15.5 | $15.5 | $200.00 | $310.0K | 16.9K | 35 |
| QCOM | PUT | TRADE | BULLISH | 08/09/24 | $6.6 | $6.55 | $6.55 | $200.00 | $131.0K | 443 | 200 |
| QCOM | CALL | SWEEP | BEARISH | 06/20/25 | $23.45 | $23.4 | $23.4 | $230.00 | $109.9K | 3.3K | 55 |
| QCOM | CALL | TRADE | BULLISH | 01/16/26 | $81.55 | $78.55 | $80.48 | $140.00 | $80.4K | 580 | 0 |
| QCOM | CALL | SWEEP | BEARISH | 08/16/24 | $39.0 | $38.75 | $38.81 | $170.00 | $73.7K | 770 | 0 |
About Qualcomm
Qualcomm 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 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 also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
Following our analysis of the options activities associated with Qualcomm, we pivot to a closer look at the company's own performance.
Present Market Standing of Qualcomm
- Currently trading with a volume of 1,317,153, the QCOM's price is up by 0.77%, now at $208.71.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 21 days.
What Analysts Are Saying About Qualcomm
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $247.5.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Qualcomm, targeting a price of $225.
- Maintaining their stance, an analyst from Tigress Financial continues to hold a Buy rating for Qualcomm, targeting a price of $270.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Qualcomm with Benzinga Pro for real-time alerts.