Investors with a lot of money to spend have taken a bearish 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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with WOLF, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 16 options trades for Wolfspeed.
This isn't normal.
The overall sentiment of these big-money traders is split between 43% bullish and 50%, bearish.
Out of all of the options we uncovered, 15 are puts, for a total amount of $1,140,864, and there was 1 call, for a total amount of $93,251.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $65.0 for Wolfspeed over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Wolfspeed options trades today is 1384.0 with a total volume of 18,986.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wolfspeed's big money trades within a strike price range of $5.0 to $65.0 over 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 | BULLISH | 09/20/24 | $1.15 | $1.1 | $1.1 | $10.00 | $167.1K | 520 | 1.5K |
| WOLF | PUT | SWEEP | BEARISH | 09/20/24 | $1.15 | $0.75 | $1.1 | $10.00 | $162.3K | 520 | 5.1K |
| WOLF | PUT | SWEEP | BULLISH | 01/16/26 | $8.6 | $8.2 | $8.2 | $17.50 | $159.8K | 3.5K | 195 |
| WOLF | PUT | SWEEP | BEARISH | 08/30/24 | $1.6 | $1.45 | $1.6 | $12.50 | $128.2K | 21 | 1.1K |
| WOLF | PUT | SWEEP | BEARISH | 06/20/25 | $4.7 | $4.6 | $4.7 | $13.00 | $122.6K | 2.6K | 262 |
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.
Current Position of Wolfspeed
- With a volume of 5,054,791, the price of WOLF is up 10.84% at $14.05.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 13 days.
What Analysts Are Saying About Wolfspeed
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $18.0.
- An analyst from New Street Research downgraded its action to Neutral with a price target of $18.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Wolfspeed with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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