Qualcomm closed at $175.50, down 0.29%, after fluctuating between $171.79 and $176.40 over the session.

The session’s most notable options activity was a $1.51 million put sale, which dominated an otherwise quiet large-trade tape. The block involved 1,700 contracts on a far-dated out-of-the-money strike, and the overall tone of institutional flow leaned clearly bullish, with no significant bearish blocks to offset the premium-collection positioning.

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Options Indicators

Qualcomm currently has an implied volatility of 51.85%, and with an IV percentile of 67.33%, its volatility profile sits in the neutral range rather than at an extreme. At the same time, the IV/HV ratio of 0.93 suggests implied volatility is slightly below historical volatility, indicating options are not showing a strong premium relative to recent realized movement and overall appear fairly priced to slightly inexpensive.

The Call/Put volume ratio is 1.10.

Large Trades

A put sale worth $1.51 million stood out as the key large trade, with 1,700 contracts sold on the June 17, 2027 $135.00 put. With QCOM referenced at $175.50, this strike sits out of the money, making the position a moderately bullish one. Selling an out-of-the-money put at this lower strike typically reflects willingness to collect premium while expressing confidence that the stock is unlikely to fall below that level by expiration; it can also indicate a readiness to accumulate shares at an effective entry point if assigned.

Overall, the large-trade flow leans clearly bullish. The only notable block in the data was an out-of-the-money put sale, which is generally associated with premium collection and downside confidence rather than outright bearish positioning. Taken together, the bulk-order activity suggests investors are comfortable with QCOM holding above lower support levels and are positioning with a constructive outlook rather than preparing for significant weakness.

Strategy Reference

For a low assignment probability, a seller could consider the June 17, 2027 $150.00 put, which is farther from the current price than the $135.00 strike and offers a wider buffer below Qualcomm’s recent trading range.