Investors with a lot of money to spend have taken a bullish stance on Credo Technology Group CRDO.
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 CRDO, 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 21 uncommon options trades for Credo Technology Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 47%, bearish.
Out of all of the special options we uncovered, 13 are puts, for a total amount of $837,019, and 8 are calls, for a total amount of $500,859.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $65.0 for Credo Technology Group over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Credo Technology Group options trades today is 436.0 with a total volume of 19,698.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Credo Technology Group's big money trades within a strike price range of $45.0 to $65.0 over the last 30 days.
Credo Technology Group Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRDO | PUT | SWEEP | BULLISH | 12/20/24 | $3.3 | $3.0 | $3.06 | $45.00 | $222.6K | 300 | 803 |
| CRDO | CALL | SWEEP | BULLISH | 12/20/24 | $4.2 | $4.1 | $4.2 | $50.00 | $133.5K | 979 | 318 |
| CRDO | CALL | TRADE | BEARISH | 12/20/24 | $7.4 | $6.4 | $6.6 | $45.00 | $132.0K | 1.2K | 208 |
| CRDO | PUT | SWEEP | BEARISH | 12/20/24 | $3.6 | $3.4 | $3.6 | $45.00 | $100.0K | 300 | 1.5K |
| CRDO | PUT | SWEEP | BULLISH | 12/20/24 | $3.5 | $3.5 | $3.5 | $45.00 | $85.0K | 300 | 1.3K |
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.
After a thorough review of the options trading surrounding Credo Technology Group, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Credo Technology Group's Current Market Status
- With a volume of 2,802,188, the price of CRDO is up 7.11% at $48.96.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 3 days.
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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 Credo Technology Group with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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