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 12 options trades for Credo Technology Group. This is not a typical pattern.
The sentiment among these major traders is split, with 16% bullish and 75% bearish. Among all the options we identified, there was one put, amounting to $28,800, and 11 calls, totaling $419,290.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $85.0 for Credo Technology Group, spanning the last three months.
Volume & Open Interest Trends
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 Credo Technology Group'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 Credo Technology Group's whale trades within a strike price range from $45.0 to $85.0 in the last 30 days.
Credo Technology Group 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRDO | CALL | TRADE | BEARISH | 02/21/25 | $34.0 | $32.9 | $33.31 | $45.00 | $66.6K | 406 | 35 |
| CRDO | CALL | TRADE | BULLISH | 02/21/25 | $33.6 | $31.3 | $32.8 | $45.00 | $49.1K | 406 | 15 |
| CRDO | CALL | TRADE | BEARISH | 02/21/25 | $14.7 | $14.3 | $14.3 | $65.00 | $42.9K | 1.3K | 172 |
| CRDO | CALL | TRADE | NEUTRAL | 02/21/25 | $14.2 | $14.0 | $14.1 | $65.00 | $42.3K | 1.3K | 224 |
| CRDO | CALL | TRADE | BEARISH | 02/21/25 | $14.7 | $13.5 | $13.78 | $65.00 | $41.3K | 1.3K | 254 |
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.
In light of the recent options history for Credo Technology Group, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Credo Technology Group
- Trading volume stands at 1,494,065, with CRDO's price up by 2.33%, positioned at $77.24.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 40 days.
Expert Opinions on Credo Technology Group
In the last month, 3 experts released ratings on this stock with an average target price of $83.0.
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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. * An analyst from Stifel has decided to maintain their Buy rating on Credo Technology Group, which currently sits at a price target of $80. * An analyst from Mizuho persists with their Outperform rating on Credo Technology Group, maintaining a target price of $85. * Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Credo Technology Group with a target price of $84.
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 Credo Technology Group, Benzinga Pro gives you real-time options trades alerts.
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