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Check Out What Whales Are Doing With QCOM

Someone with a lot of money to spend has taken a bullish stance on Qualcomm (NASDAQ:QCOM). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Benzinga · 12/29/2021 10:19

Someone with a lot of money to spend has taken a bullish stance on Qualcomm (NASDAQ:QCOM).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with QCOM, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Qualcomm.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $96,725, and 8 are calls, for a total amount of $882,860.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $200.0 for Qualcomm over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Qualcomm options trades today is 3480.38 with a total volume of 477.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's big money trades within a strike price range of $120.0 to $200.0 over the last 30 days.

Qualcomm Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
QCOM CALL TRADE BULLISH 04/14/22 $120.00 $233.5K 92 10
QCOM CALL SWEEP BEARISH 06/17/22 $200.00 $199.1K 1.5K 0
QCOM CALL SWEEP BEARISH 01/21/22 $180.00 $136.3K 15.9K 224
QCOM CALL TRADE BEARISH 04/14/22 $120.00 $102.4K 92 59
QCOM PUT TRADE BULLISH 01/07/22 $187.50 $69.1K 74 2

Where Is Qualcomm Standing Right Now?

  • With a volume of 484,029, the price of QCOM is up 1.12% at $186.89.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 35 days.

What The Experts Say On Qualcomm:

  • Morgan Stanley has decided to maintain their Overweight rating on Qualcomm, which currently sits at a price target of $215.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.