QCOM Options Traders Bet Big on a Breakout With a $1.57M Call at $175

By TrendSpider Editor

A single unusual call contract worth $1,571,677 is drawing attention in QUALCOMM shares today, signaling that at least one large player is positioning for a meaningful move higher over the next several weeks. QCOM is currently trading at $164.395, up 2.50% on the session, and sits in the middle of i

QCOM Options Traders Bet Big on a Breakout With a $1.57M Call at $175

A single unusual call contract worth $1,571,677 is drawing attention in QUALCOMM shares today, signaling that at least one large player is positioning for a meaningful move higher over the next several weeks. QCOM is currently trading at $164.395, up 2.50% on the session, and sits in the middle of its 52-week range of $121.99 to $259.92, leaving substantial room to run before retesting prior highs. The combination of a notable intraday gain and aggressive out-of-the-money call activity suggests growing conviction that QCOM's momentum may be building.

Key Drivers of the QCOM Stock Move

• Main Catalyst: A single call contract at the $175 strike expiring September 4, 2026 printed with a volume of 2,714 contracts against an open interest figure that represents a 1,414% surge relative to existing open interest, flagging it as highly unusual and likely a fresh directional bet rather than a hedge.
• Bull Case: The $175 strike sits above the current price of $164.395, meaning the buyer is paying a total premium of $1,571,677 with the expectation that QCOM will push through $175 before the September 4 expiration. Given that the stock has already traded as high as $259.92 over the past 52 weeks, the $175 target represents a relatively modest recovery from historical levels.
• Bear Case: The $175 strike is out of the money, and with expiration arriving in roughly four weeks, time decay will work aggressively against this position if QCOM stalls near current levels. The stock remains well below its 52-week high of $259.92, and any broader semiconductor sector weakness could quickly erase today's 2.50% gain and leave the call worthless.

Looking ahead, QCOM faces a narrow window for this options bet to pay off. The September 4 expiration gives the stock less than a month to clear $175, a move that would require an additional gain of roughly 6.5% from today's price. The open interest explosion of 1,414% leaves little ambiguity that this is a new, aggressive position rather than a routine roll or hedge. Broader sentiment in the semiconductor space and any company-specific catalysts, including product announcements or supply chain developments tied to Qualcomm's mobile and automotive chip businesses, could serve as the trigger this trader appears to be anticipating. Investors should watch whether volume continues to accumulate at this strike in the sessions ahead as a gauge of follow-through conviction.

QCOM Unusual Options Activity

One unusual contract was flagged in today's session:

• Type: Call | Strike: $175 | Expiry: September 4, 2026 | Volume: 2,714 | Open Interest Change: 1,414% above existing open interest

Total unusual premium crossing the tape today came in at $1,571,677, all of it concentrated in this single call contract. The absence of any corresponding put activity means there is no offsetting bearish flow to suggest this is part of a spread strategy, pointing toward a straightforward directional bullish wager.

QCOM Seasonality

August and early September have historically been an active period for semiconductor stocks as traders position ahead of fall product cycles and back-to-school device demand, both of which are closely tied to Qualcomm's core mobile chipset business. A bet expiring the first week of September aligns with this seasonal window when momentum trades in the chip sector tend to see elevated volatility.

QCOM Relative Performance

QCOM's 2.50% gain today positions it as a relative outperformer within the semiconductor space on this session. However, the stock's current price of $164.395 still reflects significant distance from its 52-week high of $259.92, meaning QCOM has underperformed on a longer trailing basis compared to peers that have recovered more fully from their prior-year lows. The 52-week low of $121.99 does provide a floor reference that shows the stock has bounced materially off its worst levels, recovering more than $42 from the bottom, though recapturing the upper end of its annual range remains a longer-term challenge.