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 25 strange trades.
If we consider the specifics of each trade, it is accurate to state that 32% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $534,850 and 15, calls, for a total amount of $2,172,274.
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 $35.0 to $80.0 for ON Semiconductor over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for ON Semiconductor options trades today is 2955.89 with a total volume of 18,357.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for ON Semiconductor's big money trades within a strike price range of $35.0 to $80.0 over 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 | CALL | TRADE | BEARISH | 09/16/22 | $65.00 | $500.0K | 2.2K | 1.0K |
| ON | CALL | SWEEP | BEARISH | 10/21/22 | $80.00 | $416.1K | 5.9K | 1.4K |
| ON | CALL | SWEEP | BEARISH | 10/21/22 | $80.00 | $279.0K | 5.9K | 3.4K |
| ON | CALL | TRADE | BEARISH | 10/21/22 | $80.00 | $215.6K | 5.9K | 4.1K |
| ON | CALL | SWEEP | BEARISH | 10/21/22 | $80.00 | $165.7K | 5.9K | 1.9K |
Where Is ON Semiconductor Standing Right Now?
- With a volume of 4,682,046, the price of ON is down -4.97% at $72.9.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 66 days.
What The Experts Say On ON Semiconductor:
- Citigroup has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $75.
- Needham has decided to maintain their Strong Buy rating on ON Semiconductor, which currently sits at a price target of $80.
- Susquehanna has decided to maintain their Positive rating on ON Semiconductor, which currently sits at a price target of $82.
- Stifel has decided to maintain their Hold rating on ON Semiconductor, which currently sits at a price target of $68.
- Morgan Stanley has decided to maintain their Equal-Weight rating on ON Semiconductor, which currently sits at a price target of $65.
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.
