Deep-pocketed investors have adopted a bearish 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 9 extraordinary options activities for Wolfspeed. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 3 are puts, totaling $317,300, and 6 are calls, amounting to $692,781.
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 $16.0 to $35.0 for Wolfspeed during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Wolfspeed options trades today is 1200.83 with a total volume of 1,464.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wolfspeed's big money trades within a strike price range of $16.0 to $35.0 over the last 30 days.
Wolfspeed 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WOLF | CALL | TRADE | BULLISH | 08/16/24 | $0.9 | $0.8 | $0.9 | $25.00 | $450.0K | 998 | 1 |
| WOLF | PUT | TRADE | BULLISH | 01/17/25 | $11.1 | $10.7 | $10.7 | $30.00 | $160.5K | 6.1K | 0 |
| WOLF | PUT | TRADE | BEARISH | 03/21/25 | $2.5 | $2.3 | $2.45 | $16.00 | $122.5K | 18 | 0 |
| WOLF | CALL | SWEEP | BEARISH | 04/17/25 | $2.55 | $2.55 | $2.55 | $35.00 | $64.0K | 30 | 671 |
| WOLF | CALL | SWEEP | BULLISH | 04/17/25 | $2.45 | $2.3 | $2.45 | $35.00 | $63.9K | 30 | 6 |
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 revenue from Europe and also has a presence in the United States; China; Japan; South Korea, and other countries.
Following our analysis of the options activities associated with Wolfspeed, we pivot to a closer look at the company's own performance.
Where Is Wolfspeed Standing Right Now?
- With a trading volume of 2,959,974, the price of WOLF is down by -6.97%, reaching $21.02.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 26 days from now.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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