Investors with a lot of money to spend have taken a bullish stance on Wolfspeed WOLF.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WOLF, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for Wolfspeed.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 38%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $1,372,243, and 5 are calls, for a total amount of $444,170.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $12.5 to $30.0 for Wolfspeed during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $12.5 to $30.0 in the last 30 days.
Wolfspeed Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WOLF | PUT | TRADE | BULLISH | 01/16/26 | $4.8 | $2.4 | $2.9 | $12.50 | $870.0K | 7 | 3.0K |
| WOLF | CALL | SWEEP | BULLISH | 09/20/24 | $7.6 | $7.4 | $7.6 | $20.00 | $227.2K | 446 | 300 |
| WOLF | PUT | SWEEP | BEARISH | 01/17/25 | $5.6 | $5.3 | $5.6 | $22.50 | $186.4K | 785 | 65 |
| WOLF | CALL | SWEEP | BULLISH | 09/20/24 | $8.3 | $8.1 | $8.3 | $17.50 | $79.6K | 43 | 98 |
| WOLF | PUT | SWEEP | BEARISH | 12/20/24 | $6.7 | $6.5 | $6.7 | $25.00 | $78.3K | 1 | 0 |
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.
Where Is Wolfspeed Standing Right Now?
- With a trading volume of 2,903,625, the price of WOLF is down by -2.59%, reaching $23.32.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 8 days from now.
Expert Opinions on Wolfspeed
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $31.0.
- An analyst from Deutsche Bank persists with their Hold rating on Wolfspeed, maintaining a target price of $30.
- In a cautious move, an analyst from Mizuho downgraded its rating to Neutral, setting a price target of $30.
- An analyst from Susquehanna has decided to maintain their Neutral rating on Wolfspeed, which currently sits at a price target of $35.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Wolfspeed, targeting a price of $35.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Neutral rating on Wolfspeed with a target price of $25.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Wolfspeed, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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