QUALCOMM Bears Bet Big With $7.6 Million Put Sweep as Stock Trades Near Midpoint of 52-Week Range

By TrendSpider Editor

A single bearish options contract worth $7,612,500 in premium just hit the tape on QUALCOMM Incorporated, drawing attention to a potentially significant directional bet against the chipmaker. QCOM shares are currently trading at $176.44, up 1.35% on the session, but that intraday gain does little to

QUALCOMM Bears Bet Big With $7.6 Million Put Sweep as Stock Trades Near Midpoint of 52-Week Range

A single bearish options contract worth $7,612,500 in premium just hit the tape on QUALCOMM Incorporated, drawing attention to a potentially significant directional bet against the chipmaker. QCOM shares are currently trading at $176.44, up 1.35% on the session, but that intraday gain does little to overshadow a notably large put position opened well above current prices. With a 52-week range spanning $121.99 to $259.92, QCOM sits closer to the lower half of its range, adding weight to the bearish read this contract implies.

Key Drivers of the QCOM Stock Move

• Main Catalyst: One unusual put contract was flagged today on QCOM, a $200 strike put expiring January 21, 2028, with a size of 1,500 contracts, open interest utilization at 167%, and a total premium of $7,612,500. The contract is currently in the money, as the $200 strike sits above the current price of $176.44.
• Bull Case: QCOM is up 1.35% today, showing near-term buying interest, and with the stock trading at $176.44, a move back toward the 52-week high of $259.92 would represent significant upside and render this put position worthless at expiration.
• Bear Case: The put is already in the money with the stock at $176.44 versus the $200 strike, and at 167% of open interest, this is a freshly opened position of meaningful size. The January 2028 expiration gives the trade over 16 months of runway, suggesting this is not a short-term hedge but a deliberate, longer-duration bearish thesis on QUALCOMM.

The forward setup for QCOM is complicated by a broader semiconductor environment that continues to face cyclical and geopolitical headwinds. The stock has already surrendered a substantial portion of its 52-week high of $259.92, and the fact that a trader is willing to commit over $7.6 million in premium to a put position struck above the current price reflects genuine conviction about further downside over the next year and a half. The open interest ratio of 167% confirms this is new money entering the trade rather than an existing position being rolled or closed, which makes the signal harder to dismiss as routine hedging activity.

QCOM Unusual Options Activity

One unusual options contract was flagged on QUALCOMM today:

• Type: Put | Strike: $200 | Expiry: January 21, 2028 | Volume/Size: 1,500 contracts | Open Interest Utilization: 167% | Status: In the Money | Premium: $7,612,500

This is the only unusual contract flagged on QCOM today, with zero calls and zero puts flagged outside of this single position. The full $7,612,500 in total premium on the session flows entirely into the bearish column, leaving no offsetting bullish options activity to suggest this is part of a spread or synthetic structure based on available data.

QCOM Seasonality

September has historically been a challenging month for semiconductor stocks broadly, as the sector tends to see portfolio rebalancing pressure ahead of quarter-end in late September. A trader opening a long-dated put in early September aligns with this seasonal caution, particularly heading into what could be a pivotal earnings cycle for QCOM in the coming quarters.

QCOM Relative Performance

QCOM's 1.35% gain today offers a modest positive session, but the stock's position at $176.44 against a 52-week high of $259.92 means shares remain roughly 32% off their peak. That sustained underperformance relative to its own range, combined with today's large in-the-money put activity, suggests institutional participants may view QCOM as a laggard within the semiconductor space rather than a candidate for near-term recovery.