Whales with a lot of money to spend have taken a noticeably bearish stance on Wolfspeed.
Looking at options history for Wolfspeed WOLF we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $629,869 and 5, calls, for a total amount of $207,707.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $22.5 to $50.0 for Wolfspeed over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Wolfspeed stands at 2253.8, with a total volume reaching 3,760.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wolfspeed, situated within the strike price corridor from $22.5 to $50.0, throughout the last 30 days.
Wolfspeed 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WOLF | PUT | SWEEP | BEARISH | 12/20/24 | $5.5 | $5.4 | $5.5 | $25.00 | $161.7K | 178 | 294 |
| WOLF | PUT | SWEEP | BEARISH | 09/20/24 | $7.4 | $7.1 | $7.3 | $30.00 | $127.7K | 1.3K | 175 |
| WOLF | PUT | SWEEP | BEARISH | 12/20/24 | $5.5 | $5.4 | $5.5 | $25.00 | $113.3K | 178 | 500 |
| WOLF | PUT | SWEEP | BEARISH | 01/17/25 | $5.7 | $5.6 | $5.7 | $25.00 | $71.2K | 6.8K | 115 |
| WOLF | PUT | SWEEP | BEARISH | 09/20/24 | $4.2 | $4.0 | $4.16 | $25.00 | $64.3K | 2.5K | 155 |
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.
Having examined the options trading patterns of Wolfspeed, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Wolfspeed
- Trading volume stands at 3,247,957, with WOLF's price up by 5.99%, positioned at $25.13.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 92 days.
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 $34.4.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Neutral rating for Wolfspeed, targeting a price of $23.
- An analyst from Mizuho persists with their Neutral rating on Wolfspeed, maintaining a target price of $27.
- Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Wolfspeed, targeting a price of $25.
- Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Wolfspeed with a target price of $47.
- Maintaining their stance, an analyst from Roth MKM continues to hold a Buy rating for Wolfspeed, targeting a price of $50.
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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