Sarah Wasserman (swasserman@sir-inc.com) Adobe Systems Incorporated (ADBE) is scheduled to report its fourth-quarter earnings after the close today, with analysts anticipating a profit of 52 cents per share from the tech issue. For the record, ADBE has surpassed the consensus estimate in each of the last four reporting periods.
Option traders have taken a keen interest in ADBE ahead of tonight's report, with 64,000 contracts crossing the tape so far -- five times the stock's expected daily option volume. Calls have been especially popular today, with some 41,000 of these contracts changing hands.
ADBE's most heavily traded option today has been its January 30 call, with 15,215 contracts exchanged -- 55% of which traded at the ask price, suggesting that they were likely purchased. However, with 40,000 contracts open at this strike, it's difficult to determine whether fresh positions are being added here today.
Technically speaking, ADBE hasn't been doing so hot lately, as the shares have been confined in a narrow trading range between $28 and $30 for the past few months. What's more, in addition to round-number resistance, ADBE could also face heavy options-related resistance, with peak call open interest looming overhead at today's highly popular January 30 strike.
With just minutes until the close, ADBE was trading around $29.22.
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