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 13 extraordinary options activities for Wolfspeed. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 38% bearish. Among these notable options, 3 are puts, totaling $310,900, and 10 are calls, amounting to $1,027,510.
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 $3.0 to $27.0 for Wolfspeed over the last 3 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 $3.0 to $27.0 in the last 30 days.
Wolfspeed Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WOLF | CALL | SWEEP | BEARISH | 01/16/26 | $15.9 | $12.7 | $13.4 | $3.00 | $258.0K | 201 | 190 |
| WOLF | CALL | SWEEP | BULLISH | 11/15/24 | $1.4 | $1.1 | $1.4 | $20.00 | $204.1K | 312 | 164 |
| WOLF | PUT | SWEEP | BULLISH | 01/17/25 | $1.2 | $0.8 | $0.8 | $8.00 | $191.9K | 659 | 2.5K |
| WOLF | CALL | SWEEP | BEARISH | 10/18/24 | $3.4 | $3.2 | $3.32 | $11.50 | $96.4K | 690 | 423 |
| WOLF | CALL | TRADE | NEUTRAL | 10/18/24 | $5.9 | $5.5 | $5.7 | $9.50 | $91.2K | 415 | 166 |
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 its revenue from Europe and the rest from the United States, China, Hong Kong, Asia Pacific, and other regions.
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
- Trading volume stands at 10,899,375, with WOLF's price up by 32.95%, positioned at $15.13.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 13 days.
Professional Analyst Ratings for Wolfspeed
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $8.0.
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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.
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