27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Whales with a lot of money to spend have taken a noticeably bullish stance on Microchip Technology.
Looking at options history for Microchip Technology (NASDAQ:MCHP) we detected 15 trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $77,655 and 13, calls, for a total amount of $1,359,402.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $82.5 to $135.0 for Microchip Technology over the recent three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Microchip Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Microchip Technology's significant trades, within a strike price range of $82.5 to $135.0, over the past month.
Microchip Technology Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MCHP | CALL | SWEEP | BULLISH | 01/17/25 | $135.00 | $321.5K | 152 | 1.4K |
| MCHP | CALL | SWEEP | BEARISH | 03/15/24 | $82.50 | $222.8K | 694 | 254 |
| MCHP | CALL | SWEEP | BEARISH | 10/18/24 | $100.00 | $215.0K | 1.1K | 530 |
| MCHP | CALL | TRADE | BULLISH | 10/18/24 | $100.00 | $126.0K | 1.1K | 190 |
| MCHP | CALL | SWEEP | BULLISH | 06/21/24 | $105.00 | $88.4K | 530 | 0 |
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.
After a thorough review of the options trading surrounding Microchip Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Microchip Technology
- Trading volume stands at 3,700,218, with MCHP's price up by 1.42%, positioned at $89.06.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 56 days.
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 Microchip Technology options trades with real-time alerts from Benzinga Pro.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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