High-rolling investors have positioned themselves bearish on Credo Technology Group CRDO, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CRDO often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Credo Technology Group. This is not a typical pattern.
The sentiment among these major traders is split, with 11% bullish and 66% bearish. Among all the options we identified, there was one put, amounting to $27,360, and 8 calls, totaling $262,033.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $110.0 for Credo Technology Group over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Credo Technology Group stands at 567.67, with a total volume reaching 1,982.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Credo Technology Group, situated within the strike price corridor from $50.0 to $110.0, throughout the last 30 days.
Credo Technology Group Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRDO | CALL | TRADE | BEARISH | 01/17/25 | $5.9 | $5.7 | $5.76 | $65.00 | $40.3K | 732 | 517 |
| CRDO | CALL | TRADE | BEARISH | 01/17/25 | $5.9 | $5.6 | $5.7 | $65.00 | $39.9K | 732 | 587 |
| CRDO | CALL | SWEEP | NEUTRAL | 01/17/25 | $6.8 | $4.9 | $5.7 | $65.00 | $39.8K | 732 | 70 |
| CRDO | CALL | SWEEP | BEARISH | 01/17/25 | $3.9 | $3.7 | $3.7 | $70.00 | $37.0K | 1.4K | 241 |
| CRDO | CALL | SWEEP | BEARISH | 08/15/25 | $19.8 | $18.8 | $19.0 | $65.00 | $28.5K | 32 | 30 |
About Credo Technology Group
Credo Technology Group Holding Ltd delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides secure, high-speed connectivity solutions that deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market. It has a geographic presence in Hong Kong, the United States, Mainland China, Taiwan, and the Rest of the World.
After a thorough review of the options trading surrounding Credo Technology Group, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Credo Technology Group
- With a trading volume of 1,691,214, the price of CRDO is up by 1.71%, reaching $68.36.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 54 days from now.
Expert Opinions on Credo Technology Group
In the last month, 2 experts released ratings on this stock with an average target price of $72.5.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from Susquehanna lowers its rating to Neutral with a new price target of $80. * Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Credo Technology Group with a target price of $65.
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 Credo Technology Group with Benzinga Pro for real-time alerts.
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