ON Semiconductor Options Trading: A Deep Dive into Market Sentiment – ON Semiconductor (NASDAQ:ON)
Investors with a lot of money to spend have taken a bullish stance on ON Semiconductor ON.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with ON, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga‘s options scanner spotted 8 uncommon options trades for ON Semiconductor.
This isn’t normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $506,680, and 5 are calls, for a total amount of $194,405.
What’s The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $85.0 for ON Semiconductor during the past quarter.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for ON Semiconductor’s options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across ON Semiconductor’s significant trades, within a strike price range of $70.0 to $85.0, over the past month.
ON Semiconductor Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ON | PUT | TRADE | BEARISH | 01/17/25 | $85.00 | $448.5K | 1.1K | 300 |
| ON | CALL | SWEEP | BULLISH | 04/19/24 | $85.00 | $68.8K | 1.1K | 320 |
| ON | CALL | SWEEP | BULLISH | 06/21/24 | $70.00 | $42.5K | 2.3K | 4 |
| ON | PUT | SWEEP | BEARISH | 04/19/24 | $75.00 | $30.6K | 1.8K | 114 |
| ON | CALL | TRADE | BULLISH | 01/17/25 | $70.00 | $28.5K | 432 | 21 |
About ON Semiconductor
Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and the largest supplier of image sensors to the automotive market. While the firm used to be highly vertically integrated, it now pursues a hybrid manufacturing strategy for flexible capacity. Onsemi is pivoting to focus on emerging applications like electric vehicles, autonomous vehicles, industrial automation, and renewable energy.
After a thorough review of the options trading surrounding ON Semiconductor, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of ON Semiconductor
- Trading volume stands at 3,147,819, with ON’s price up by 2.36%, positioned at $78.81.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 54 days.
Professional Analyst Ratings for ON Semiconductor
In the last month, 5 experts released ratings on this stock with an average target price of $87.6.
- An analyst from Rosenblatt has revised its rating downward to Neutral, adjusting the price target to $75.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on ON Semiconductor with a target price of $89.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $92.
- An analyst from Mizuho has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $92.
- An analyst from JP Morgan has decided to maintain their Neutral rating on ON Semiconductor, which currently sits at a price target of $90.
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.
