Investors with a lot of money to spend have taken a bullish stance on Microchip Technology MCHP.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MCHP, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Microchip Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 33%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $234,363, and 3 are calls, for a total amount of $127,570.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $70.0 for Microchip Technology during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Microchip Technology's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Microchip Technology's substantial trades, within a strike price spectrum from $65.0 to $70.0 over the preceding 30 days.
Microchip Technology 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCHP | PUT | SWEEP | BEARISH | 04/17/25 | $8.6 | $8.5 | $8.6 | $70.00 | $77.4K | 262 | 96 |
| MCHP | CALL | TRADE | NEUTRAL | 02/21/25 | $3.9 | $3.7 | $3.8 | $70.00 | $51.3K | 74 | 272 |
| MCHP | CALL | TRADE | NEUTRAL | 06/20/25 | $7.8 | $7.6 | $7.7 | $67.50 | $43.1K | 0 | 56 |
| MCHP | PUT | SWEEP | BULLISH | 11/15/24 | $4.0 | $3.8 | $3.8 | $70.00 | $38.0K | 2.6K | 338 |
| MCHP | CALL | SWEEP | BEARISH | 11/15/24 | $0.4 | $0.25 | $0.25 | $67.50 | $33.1K | 1.6K | 15 |
About Microchip Technology
Microchip Technology became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well.
Where Is Microchip Technology Standing Right Now?
- With a trading volume of 3,660,837, the price of MCHP is down by -0.92%, reaching $66.68.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 78 days from now.
What Analysts Are Saying About Microchip Technology
5 market experts have recently issued ratings for this stock, with a consensus target price of $85.4.
Turn $1000 into $1270 in just 20 days?
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 TD Cowen persists with their Hold rating on Microchip Technology, maintaining a target price of $70. * An analyst from Citigroup persists with their Buy rating on Microchip Technology, maintaining a target price of $82. * Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Microchip Technology with a target price of $85. * An analyst from Keybanc persists with their Overweight rating on Microchip Technology, maintaining a target price of $95. * An analyst from Susquehanna has decided to maintain their Positive rating on Microchip Technology, which currently sits at a price target of $95.
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 Microchip Technology with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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