This Is What Whales Are Betting On Credo Technology Group

Whales with a lot of money to spend have taken a noticeably bullish stance on Credo Technology Group.

Looking at options history for Credo Technology Group CRDO we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 33% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $136,700 and 5, calls, for a total amount of $262,835.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $60.0 for Credo Technology Group over the recent three months.

Insights into 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 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 $20.0 to $60.0 in the last 30 days.

Credo Technology Group 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

Following our analysis of the options activities associated with Credo Technology Group, we pivot to a closer look at the company's own performance.

Where Is Credo Technology Group Standing Right Now?

• With a volume of 2,557,347, the price of CRDO is up 5.05% at $45.55.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 77 days.

What Analysts Are Saying About Credo Technology Group

4 market experts have recently issued ratings for this stock, with a consensus target price of $68.75.

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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 Susquehanna has decided to maintain their Neutral rating on Credo Technology Group, which currently sits at a price target of $60. * In a positive move, an analyst from Susquehanna has upgraded their rating to Positive and adjusted the price target to $60. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Credo Technology Group with a target price of $75. * An analyst from Needham downgraded its action to Buy with a price target of $80.

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.