Investors with a lot of money to spend have taken a bearish stance on Wolfspeed WOLF.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 12 options trades for Wolfspeed.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $33,500, and 11, calls, for a total amount of $580,794.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $30.0 for Wolfspeed over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Wolfspeed options trades today is 1580.5 with a total volume of 2,466.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wolfspeed's big money trades within a strike price range of $20.0 to $30.0 over the last 30 days.
Wolfspeed Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WOLF | CALL | SWEEP | NEUTRAL | 01/16/26 | $30.00 | $94.0K | 238 | 304 |
| WOLF | CALL | SWEEP | BEARISH | 01/16/26 | $30.00 | $94.0K | 238 | 104 |
| WOLF | CALL | SWEEP | BULLISH | 09/20/24 | $20.00 | $65.6K | 298 | 83 |
| WOLF | CALL | SWEEP | BEARISH | 01/16/26 | $30.00 | $47.0K | 238 | 254 |
| WOLF | CALL | SWEEP | BEARISH | 01/16/26 | $30.00 | $47.0K | 238 | 254 |
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.
After a thorough review of the options trading surrounding Wolfspeed, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Wolfspeed
- With a trading volume of 2,727,716, the price of WOLF is down by -1.8%, reaching $24.6.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 36 days from now.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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