Deep-pocketed investors have adopted a bearish approach towards Wolfspeed WOLF, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WOLF usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Wolfspeed. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 46% leaning bullish and 53% bearish. Among these notable options, 6 are puts, totaling $1,620,510, and 9 are calls, amounting to $724,498.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $60.0 for Wolfspeed over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wolfspeed's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wolfspeed's whale trades within a strike price range from $15.0 to $60.0 in the last 30 days.
Wolfspeed Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WOLF | PUT | TRADE | BULLISH | 01/17/25 | $4.7 | $4.5 | $4.55 | $20.00 | $1.3M | 18.2K | 5.5K |
| WOLF | CALL | SWEEP | BULLISH | 08/16/24 | $2.45 | $2.3 | $2.45 | $30.00 | $245.1K | 221 | 1.0K |
| WOLF | CALL | SWEEP | BEARISH | 12/19/25 | $3.4 | $3.3 | $3.3 | $60.00 | $215.1K | 681 | 855 |
| WOLF | PUT | SWEEP | BULLISH | 04/19/24 | $2.2 | $2.1 | $2.1 | $25.00 | $82.3K | 3.9K | 1.0K |
| WOLF | CALL | TRADE | BULLISH | 12/19/25 | $3.4 | $2.95 | $3.3 | $60.00 | $63.0K | 681 | 855 |
About Wolfspeed
Wolfspeed Inc is involved in the manufacturing of wide bandgap semiconductors. It is focused on silicon carbide and gallium nitride materials and devices for power and radio-frequency (RF) applications. The company serves applications such as transportation, power supplies, inverters, and wireless systems. Geographically, it derives a majority of revenue from Europe and also has a presence in the United States; China; Japan; South Korea, and other countries.
After a thorough review of the options trading surrounding Wolfspeed, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Wolfspeed Standing Right Now?
- Currently trading with a volume of 3,333,532, the WOLF's price is down by -5.19%, now at $22.49.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 12 days.
What Analysts Are Saying About Wolfspeed
In the last month, 4 experts released ratings on this stock with an average target price of $32.5.
- An analyst from Wells Fargo downgraded its action to Equal-Weight with a price target of $30.
- An analyst from Susquehanna persists with their Neutral rating on Wolfspeed, maintaining a target price of $35.
- Reflecting concerns, an analyst from Mizuho lowers its rating to Neutral with a new price target of $30.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Wolfspeed with a target price of $35.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Wolfspeed options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
