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.
Financial giants have made a conspicuous bearish move on Wolfspeed. Our analysis of options history for Wolfspeed (NYSE:WOLF) revealed 8 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $291,460, and 4 were calls, valued at $679,795.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $45.0 for Wolfspeed over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $15.0 to $45.0 in 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 | BULLISH | 01/17/25 | $2.65 | $2.6 | $2.65 | $45.00 | $544.5K | 3.6K | 0 |
| WOLF | PUT | SWEEP | BEARISH | 05/17/24 | $3.4 | $3.3 | $3.4 | $25.00 | $137.7K | 6.3K | 266 |
| WOLF | PUT | TRADE | BEARISH | 05/17/24 | $1.15 | $1.0 | $1.09 | $20.00 | $86.0K | 4.5K | 473 |
| WOLF | CALL | TRADE | BEARISH | 06/18/26 | $17.3 | $15.7 | $16.0 | $15.00 | $48.0K | 120 | 0 |
| WOLF | CALL | TRADE | BEARISH | 06/18/26 | $17.8 | $14.9 | $15.7 | $15.00 | $47.1K | 120 | 30 |
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.
Following our analysis of the options activities associated with Wolfspeed, we pivot to a closer look at the company's own performance.
Wolfspeed's Current Market Status
- Currently trading with a volume of 2,136,885, the WOLF's price is down by -3.96%, now at $24.24.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 13 days.
What Analysts Are Saying About Wolfspeed
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $32.5.
- An analyst from Susquehanna has decided to maintain their Neutral rating on Wolfspeed, which currently sits at a price target of $35.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Wolfspeed, targeting a price of $35.
- An analyst from Wells Fargo downgraded its action to Equal-Weight with a price target of $30.
- In a cautious move, an analyst from Mizuho downgraded its rating to Neutral, setting a price target of $30.
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 Wolfspeed 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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