QCOM Sees $2.46M Bullish Call Bet as Stock Sits Near 52-Week Lows

By TrendSpider Editor

A single unusual options contract worth $2,464,500 in premium hit the tape on QUALCOMM today, drawing attention to the semiconductor giant as shares trade at $151.55, down 2.65% on the session. The bet is a call positioned out of the money at a $155 strike, suggesting at least one large player sees

QCOM Sees $2.46M Bullish Call Bet as Stock Sits Near 52-Week Lows

A single unusual options contract worth $2,464,500 in premium hit the tape on QUALCOMM today, drawing attention to the semiconductor giant as shares trade at $151.55, down 2.65% on the session. The bet is a call positioned out of the money at a $155 strike, suggesting at least one large player sees meaningful upside ahead. With QCOM trading closer to its 52-week low of $121.99 than its 52-week high of $259.92, the timing of this bullish wager is noteworthy.

Key Drivers of the QCOM Stock Move

• Main Catalyst: A single call contract at the $155 strike expiring February 19, 2027, printed with 1,000 contracts and an open interest reading of 12,500% above normal, generating $2,464,500 in total premium. The outsized open interest ratio signals this is far from routine flow.
• Bull Case: The contract is positioned out of the money but with a long runway, expiring in February 2027. The 12,500% open interest ratio suggests a highly concentrated, high-conviction position. With the 52-week high at $259.92, there is significant room for the stock to run before the contract expires.
• Bear Case: QCOM is down 2.65% today and is trading at $151.55, well below the midpoint of its 52-week range. The $155 strike is currently out of the money, meaning the stock must first recover from today's decline before this bet turns profitable. There were zero puts flagged alongside zero additional calls, so this is a lone data point rather than a broad surge in bullish positioning.

The forward setup for QCOM is interesting given the contrast between today's price weakness and the aggressive size of this options bet. At $151.55, the stock remains under pressure and is trading in the lower third of its 52-week range between $121.99 and $259.92. The options trader behind this contract appears to be betting that QCOM stages a meaningful recovery between now and February 2027, clearing the $155 level with enough momentum to justify nearly $2.5 million in premium outlay. Semiconductor stocks broadly have faced headwinds from macro uncertainty and shifting AI spending narratives, and QCOM in particular has had to navigate questions around smartphone demand cycles and its positioning in the AI edge computing space. A move back toward the $155 level would represent a modest recovery from current prices, but the real payoff on this contract likely requires a more sustained breakout.

QCOM Unusual Options Activity

One unusual contract was flagged in today's session:

• Type: Call | Strike: $155 | Expiry: February 19, 2027 | Volume: 1,000 contracts | Open Interest: 12,500% above normal

Total premium across all flagged contracts was $2,464,500. The lone call with zero puts flagged indicates a purely directional bullish structure with no hedging footprint visible in today's unusual flow data.

QCOM Seasonality

Late July and early August have historically coincided with QUALCOMM's fiscal third-quarter earnings period, a window that has produced some of the stock's sharpest single-day moves in either direction. Options activity tied to longer-dated expirations like February 2027 may reflect positioning that aims to capture multiple potential catalysts over the coming quarters rather than a single near-term event.

QCOM Relative Performance

QCOM's 2.65% decline today puts it under pressure relative to the broader semiconductor space and the general market. Trading at $151.55 against a 52-week high of $259.92, the stock has shed a substantial portion of its peak value and is sitting only about 24% above its 52-week low of $121.99. Until QCOM can reclaim ground and push back toward the upper half of its annual range, it remains a laggard relative to peers that have held closer to their respective highs.