Unpacking the Latest Options Trading Trends in ON Semiconductor – ON Semiconductor (NASDAQ:ON)
Whales with a lot of money to spend have taken a noticeably bearish stance on ON Semiconductor.
Looking at options history for ON Semiconductor ON we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $233,580 and 3, calls, for a total amount of $230,006.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $80.0 for ON Semiconductor during the past quarter.
Analyzing Volume & Open Interest
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 $65.0 to $80.0, over the past month.
ON Semiconductor Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ON | CALL | SWEEP | BEARISH | 09/20/24 | $7.8 | $7.35 | $7.39 | $75.00 | $147.9K | 1.4K | 53 |
| ON | PUT | SWEEP | BEARISH | 08/16/24 | $1.71 | $1.6 | $1.71 | $70.00 | $84.9K | 2.7K | 0 |
| ON | CALL | SWEEP | BULLISH | 12/20/24 | $8.65 | $8.45 | $8.56 | $80.00 | $55.6K | 335 | 5 |
| ON | PUT | TRADE | BEARISH | 07/26/24 | $1.1 | $1.01 | $1.07 | $74.00 | $53.5K | 173 | 0 |
| ON | PUT | SWEEP | BEARISH | 08/02/24 | $4.0 | $3.85 | $3.97 | $77.00 | $39.6K | 133 | 36 |
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.
Having examined the options trading patterns of ON Semiconductor, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
ON Semiconductor’s Current Market Status
- With a volume of 9,330,035, the price of ON is down -4.17% at $75.46.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 12 days.
What The Experts Say On ON Semiconductor
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $80.5.
- Reflecting concerns, an analyst from Citigroup lowers its rating to Neutral with a new price target of $77.
- Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Underweight with a new price target of $65.
- An analyst from Susquehanna has decided to maintain their Positive rating on ON Semiconductor, which currently sits at a price target of $95.
- An analyst from Keybanc has decided to maintain their Overweight rating on ON Semiconductor, which currently sits at a price target of $85.
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.
