What the Options Market Tells Us About ON Semiconductor - ON Semiconductor (NASDAQ:ON)

Group 1: Market Sentiment and Options Activity - Deep-pocketed investors have adopted a bearish approach towards ON Semiconductor, indicating potential significant market movements ahead [1] - Observations from Benzinga's options scanner revealed 8 extraordinary options activities for ON Semiconductor, with 37% of investors leaning bullish and 50% bearish [2] - The total volume of options reached 2,471.00, with an average open interest of 658.43, suggesting heightened trading interest [4] Group 2: Price Movements and Target Ranges - Whales have been targeting a price range from $30.0 to $75.0 for ON Semiconductor over the last 3 months, indicating a wide spectrum of expected price movements [3] - The largest options trades observed include both puts and calls, with notable bearish sentiment reflected in the trades [8] Group 3: Company Overview and Analyst Ratings - ON Semiconductor is a leading supplier of power semiconductors and sensors, focusing on automotive and industrial markets, and is the second-largest power chipmaker globally [10] - Recent analyst ratings show an average target price of $55.4, with various firms maintaining neutral to buy ratings, indicating a mixed outlook [11][12] Group 4: Current Stock Performance - The current stock price of ON Semiconductor is $48.21, reflecting a slight decrease of -0.21%, with upcoming earnings expected in 75 days [15]