Decoding Wolfspeed's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bullish approach towards Wolfspeed WOLF, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WOLF usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Wolfspeed. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 62% leaning bullish and 37% bearish. Among these notable options, 4 are puts, totaling $382,622, and 4 are calls, amounting to $341,484.

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Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $22.5 to $40.0 for Wolfspeed during the past quarter.

Volume & Open Interest Development

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 $22.5 to $40.0 in the last 30 days.

Wolfspeed Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

In light of the recent options history for Wolfspeed, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Wolfspeed

• With a trading volume of 3,857,200, the price of WOLF is up by 0.19%, reaching $26.6.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 76 days from now.

Expert Opinions on Wolfspeed

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $44.0.

• Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Wolfspeed, targeting a price of $43.
• An analyst from Piper Sandler persists with their Overweight rating on Wolfspeed, maintaining a target price of $45.

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.