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QUALCOMM Incorporated (NASDAQ:QCOM) – What Are Whales Doing With Qualcomm

A whale with a lot of money to spend has taken a noticeably bullish stance Qualcomm.

Looking at the options history for Qualcomm (NASDAQ:QCOM), we detected 24 strange trades.

Considering the specifics of each trade, it is correct to say that 70.83% of investors opened trades with bullish expectations and 29.17% with bearish.

Of the total trades spotted, there are 7 puts, totaling $338,113.00 and 17, calls, totaling $1,206,696.00.

What is the price target?

Taking into account the volume and open interest on these contracts, it appears that whales have been targeting a price range of $100.0 to $190.0 for Qualcomm for the past 3 months.

Volume & Open Interest Development

Watching volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest for Qualcomm’s options at a particular strike price. Below we can observe the evolution of the volume and outstanding interest of calls and puts respectively for all Qualcomm whale trades within a strike price range of $100.0 to $190.0 over the past 30 days.

Qualcomm option volume and interest outstanding over the past 30 days

Biggest options spotted:

Symbol
PUT/CALL
Trade Type:
Sentiment
Exp. Date
strike price
Total Trading Price
Open interest
Volume
QCOM CALL TRADE BULLISH 01-02-22 $175.00 $277.5K 11.3K 218 QCOM CALL TRADE BULLISH 23-12-21 $185.00 $274.8K 1.3K 803 QCOM CALL TRADE BULLISH 01/21/ 22 $170.00 $97.7K 5.8K 109 QCOM CALL TRADE BULLISH 01 21/22 $170.00 $78.0K 5.8K 109 QCOM PUT TRADE BULLISH 12/10/21 $185.00 $76.6K 362 3.2K

Where is Qualcomm now?

With a volume of 5,154,637.00, the price of QCOM is up 0.61% to $183.75. RSI indicators indicate that the underlying stock is approaching overbought. The next profit is expected to be released in 55 days.

What the experts are saying about Qualcomm:

Mizuho has decided to maintain their buy rating on Qualcomm, which currently stands at a price target of $195.0. Keybanc has decided to maintain Qualcomm’s Overweight rating, which currently has a price target of $210.0. Deutsche Bank has decided to maintain its buy rating on Qualcomm, which currently stands at a price target of $210.0. Citigroup has decided to maintain their neutral rating on Qualcomm, which currently stands at a target price of $180.0. Piper Sandler has decided to maintain their Overweight rating on Qualcomm, which currently stands at a price target of $225.0.

Options are a riskier asset compared to just trading the stock, but they have a higher earning potential. Serious options traders manage this risk by informing themselves on a daily basis, scaling in and out of trades, tracking more than one indicator and closely monitoring the markets.

If you are already an options trader or want to get started, head over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analysis to power your investment and trading strategy.

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