A whale with a lot of money to spend has taken a noticeably bearish stance on ON Semiconductor.
Looking at options history for ON Semiconductor (NASDAQ:ON) we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $181,800 and 9, calls, for a total amount of $426,227.
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 $43.0 to $65.0 for ON Semiconductor over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for ON Semiconductor's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of ON Semiconductor's whale activity within a strike price range from $43.0 to $65.0 in the last 30 days.
ON Semiconductor Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ON | PUT | TRADE | BULLISH | 01/20/23 | $65.00 | $148.0K | 667 | 201 |
| ON | CALL | SWEEP | BEARISH | 01/20/23 | $65.00 | $114.6K | 1.6K | 217 |
| ON | CALL | SWEEP | BULLISH | 01/19/24 | $43.00 | $69.7K | 50 | 25 |
| ON | CALL | SWEEP | BEARISH | 08/12/22 | $64.00 | $47.8K | 105 | 675 |
| ON | CALL | SWEEP | NEUTRAL | 01/20/23 | $60.00 | $41.1K | 2.1K | 47 |
Where Is ON Semiconductor Standing Right Now?
- With a volume of 6,210,458, the price of ON is up 4.82% at $66.12.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 82 days.
What The Experts Say On ON Semiconductor:
- Morgan Stanley has decided to maintain their Equal-Weight rating on ON Semiconductor, which currently sits at a price target of $65.
- B. Riley Securities has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $80.
- Citigroup has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $75.
- Susquehanna has decided to maintain their Positive rating on ON Semiconductor, which currently sits at a price target of $82.
- Jefferies has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $77.
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 want to stay updated on the latest options trades for ON Semiconductor, Benzinga Pro gives you real-time options trades alerts.
