Deep-pocketed investors have adopted a bullish 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 40% leaning bullish and 40% bearish. Among these notable options, 7 are puts, totaling $1,139,323, and 8 are calls, amounting to $703,620.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $65.0 for Wolfspeed over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Wolfspeed stands at 1261.54, with a total volume reaching 3,994.00. 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 $10.0 to $65.0, throughout the last 30 days.
Wolfspeed Call and Put Volume: 30-Day Overview
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 | BEARISH | 06/18/26 | $7.0 | $3.5 | $5.8 | $12.50 | $870.0K | 11.1K | 1.5K |
| WOLF | CALL | TRADE | NEUTRAL | 01/16/26 | $7.3 | $7.1 | $7.2 | $10.00 | $216.0K | 169 | 538 |
| WOLF | CALL | TRADE | NEUTRAL | 01/16/26 | $7.3 | $7.1 | $7.2 | $10.00 | $138.2K | 169 | 731 |
| WOLF | CALL | SWEEP | BULLISH | 12/20/24 | $4.1 | $4.0 | $4.1 | $12.50 | $96.7K | 274 | 300 |
| WOLF | CALL | SWEEP | BEARISH | 09/20/24 | $1.7 | $1.65 | $1.7 | $15.00 | $83.1K | 382 | 585 |
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
Present Market Standing of Wolfspeed
- With a volume of 7,535,712, the price of WOLF is up 5.26% at $12.6.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 8 days.
Expert Opinions on Wolfspeed
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $18.0.
- In a cautious move, an analyst from New Street Research downgraded its rating to Neutral, setting a price target of $18.
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.
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