Financial giants have made a conspicuous bullish move on Wolfspeed. Our analysis of options history for Wolfspeed WOLF revealed 11 unusual trades.
Delving into the details, we found 45% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $164,474, and 7 were calls, valued at $283,489.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $25.0 for Wolfspeed, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Wolfspeed stands at 1309.78, with a total volume reaching 3,994.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wolfspeed, situated within the strike price corridor from $5.0 to $25.0, throughout the last 30 days.
Wolfspeed 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WOLF | CALL | SWEEP | BEARISH | 08/23/24 | $1.35 | $1.3 | $1.3 | $13.00 | $65.3K | 573 | 912 |
| WOLF | PUT | SWEEP | BEARISH | 12/19/25 | $11.3 | $11.0 | $11.18 | $20.00 | $48.0K | 6.9K | 7 |
| WOLF | CALL | SWEEP | BEARISH | 04/17/25 | $5.0 | $4.8 | $4.9 | $12.50 | $48.0K | 826 | 100 |
| WOLF | PUT | TRADE | BULLISH | 12/20/24 | $0.85 | $0.7 | $0.75 | $6.00 | $45.0K | 0 | 700 |
| WOLF | CALL | SWEEP | BULLISH | 12/20/24 | $2.8 | $2.7 | $2.8 | $15.00 | $44.2K | 398 | 158 |
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.
Having examined the options trading patterns of Wolfspeed, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Wolfspeed
- With a trading volume of 10,308,173, the price of WOLF is up by 3.78%, reaching $12.64.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 2 days from now.
Professional Analyst Ratings for Wolfspeed
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $16.5.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Wolfspeed, which currently sits at a price target of $15.
- An analyst from New Street Research downgraded its action to Neutral with a price target of $18.
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 Wolfspeed, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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