Investors with a lot of money to spend have taken a bullish stance on Wolfspeed WOLF.
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 WOLF, 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 8 uncommon options trades for Wolfspeed.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 12%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $141,120, and 5 are calls, for a total amount of $194,860.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $6.0 to $11.0 for Wolfspeed over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Wolfspeed'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 Wolfspeed's whale activity within a strike price range from $6.0 to $11.0 in the last 30 days.
Wolfspeed Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WOLF | PUT | SWEEP | BULLISH | 12/20/24 | $2.0 | $1.95 | $1.95 | $8.00 | $57.5K | 2.4K | 720 |
| WOLF | PUT | TRADE | BULLISH | 12/20/24 | $2.0 | $1.95 | $1.95 | $8.00 | $57.5K | 2.4K | 380 |
| WOLF | CALL | TRADE | NEUTRAL | 06/18/26 | $4.4 | $2.8 | $3.7 | $10.00 | $55.5K | 763 | 150 |
| WOLF | CALL | TRADE | BULLISH | 01/17/25 | $1.3 | $1.2 | $1.3 | $11.00 | $38.8K | 250 | 300 |
| WOLF | CALL | SWEEP | BULLISH | 04/17/25 | $3.7 | $3.6 | $3.7 | $6.00 | $36.9K | 56 | 200 |
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 its revenue from Europe and the rest from the United States, China, Hong Kong, Asia Pacific, and other regions.
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?
- Trading volume stands at 5,996,730, with WOLF's price down by -3.58%, positioned at $7.81.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 35 days.
What The Experts Say On Wolfspeed
1 market experts have recently issued ratings for this stock, with a consensus target price of $25.0.
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 Canaccord Genuity persists with their Buy rating on Wolfspeed, maintaining a target price of $25.
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 Wolfspeed with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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