There has been a notable uptick in bullish options activity surrounding ON Semiconductor.
Reviewing the options history for ON Semiconductor (ON), it is observed that 8 trades took place.
When analyzing the specifics of each trade, it becomes apparent that 50% of investors initiated trades with bullish expectations, while the remaining 50% leaned bearish.
Among the identified trades, 4 were puts amounting to $304,529 and 4 were calls amounting to $157,810.
Establishing the Price Target
Following an assessment of the trading volumes and Open Interest, market influencers are seen concentrating on a price range between $64.0 and $130.0 for ON Semiconductor over the past three months.
Analysis of Volume & Open Interest Development
Presently, the average open interest for ON Semiconductor options stands at 545.0, with a total volume of 1,853.00. The provided chart illustrates the progression of both call and put option volume and open interest for significant trades in ON Semiconductor, spanning the strike price corridor from $64.0 to $130.0, over the last 30 days.
Evaluating ON Semiconductor’s Option Activity in the Last 30 Days
Identified Major Options Trades
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ON | PUT | TRADE | BULLISH | 01/17/25 | $70.00 | $126.3K | 1.5K | 150 |
| ON | PUT | SWEEP | BULLISH | 06/21/24 | $65.00 | $81.2K | 605 | 250 |
| ON | PUT | SWEEP | BEARISH | 01/26/24 | $75.00 | $69.4K | 204 | 803 |
| ON | CALL | SWEEP | BULLISH | 01/26/24 | $76.00 | $58.8K | 447 | 349 |
| ON | CALL | SWEEP | BEARISH | 02/16/24 | $76.00 | $37.1K | 40 | 134 |
About ON Semiconductor
ON Semiconductor is a provider of power semiconductors and sensors primarily catering to the automotive and industrial sectors. It holds the distinction of being the world’s second-largest power chipmaker and the prominent supplier of image sensors to the automotive domain. While historically vertically integrated, the company has adopted a flexible manufacturing strategy. ON Semiconductor is strategically focusing on emergent applications such as electric vehicles, autonomous driving, industrial automation, and renewable energy.
Subsequent to the scrutiny of options activities associated with ON Semiconductor, the spotlight shifts to an examination of the company’s own performance.
Current Position of ON Semiconductor
- Accumulating a trading volume of 3,557,351, ON Semiconductor’s stock price has ascended by 0.89%, reaching $75.86.
- Current RSI values suggest a potential proximity to oversold conditions.
- The next earnings report is slated for 13 days from now.
Expert Analysis of ON Semiconductor
In the past month, a total of 1 professional analyst has offered insights into this stock, establishing an average price target of $85.0.
- Staying consistent in their assessment, an analyst from Stifel maintains a Hold rating for ON Semiconductor, with a target price of $85.
Options present a riskier alternative to stock trading, but they offer amplified profit potential. Serious options traders mitigate this risk by continually educating themselves, scaling in and out of trades, following multiple indicators, and maintaining close vigilance over the markets.