Whales with a lot of money to spend have taken a noticeably bullish stance on Microchip Technology.
Looking at options history for Microchip Technology MCHP we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 70% of the investors opened trades with bullish expectations and 20% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $647,449 and 3, calls, for a total amount of $215,668.
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 $47.5 to $87.5 for Microchip Technology during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Microchip Technology stands at 373.38, with a total volume reaching 5,381.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Microchip Technology, situated within the strike price corridor from $47.5 to $87.5, throughout the last 30 days.
Microchip Technology Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCHP | PUT | SWEEP | BEARISH | 12/20/24 | $3.1 | $2.95 | $3.0 | $70.00 | $430.3K | 489 | 1.4K |
| MCHP | CALL | SWEEP | BULLISH | 02/21/25 | $4.9 | $4.7 | $4.9 | $70.00 | $98.0K | 584 | 212 |
| MCHP | CALL | SWEEP | BEARISH | 02/21/25 | $2.3 | $2.2 | $2.18 | $77.50 | $76.7K | 140 | 751 |
| MCHP | PUT | SWEEP | BULLISH | 12/20/24 | $2.05 | $2.0 | $2.05 | $67.50 | $49.6K | 1.1K | 435 |
| MCHP | PUT | SWEEP | BULLISH | 05/16/25 | $7.8 | $7.6 | $7.6 | $70.00 | $41.0K | 298 | 314 |
About Microchip Technology
Microchip Technology became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well.
In light of the recent options history for Microchip Technology, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Microchip Technology
- Trading volume stands at 3,162,874, with MCHP's price down by -1.88%, positioned at $68.54.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 65 days.
Professional Analyst Ratings for Microchip Technology
5 market experts have recently issued ratings for this stock, with a consensus target price of $88.4.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Susquehanna persists with their Positive rating on Microchip Technology, maintaining a target price of $90. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Microchip Technology, targeting a price of $82. * Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Microchip Technology with a target price of $90. * Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Microchip Technology with a target price of $85. * An analyst from Evercore ISI Group downgraded its action to Outperform with a price target of $95.
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 Microchip Technology, Benzinga Pro gives you real-time options trades alerts.
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