Investors with a lot of money to spend have taken a bullish stance on Credo Technology Group (NASDAQ:CRDO).

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 CRDO, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 32 options trades for Credo Technology Group.

This isn't normal.

The overall sentiment of these big-money traders is split between 43% bullish and 43%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $47,790, and 31, calls, for a total amount of $2,078,274.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $90.0 for Credo Technology Group over the last 3 months.

Insights into Volume & Open Interest

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 Credo Technology Group'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 Credo Technology Group's whale trades within a strike price range from $40.0 to $90.0 in the last 30 days.

Credo Technology Group Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Credo Technology Group

Having examined the options trading patterns of Credo Technology Group, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Credo Technology Group

• With a trading volume of 4,968,023, the price of CRDO is up by 12.8%, reaching $72.87.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 25 days from now.

What Analysts Are Saying About Credo Technology Group

In the last month, 4 experts released ratings on this stock with an average target price of $84.75.

Unusual Options Activity Detected: Smart Money on the Move

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Credo Technology Group, Benzinga Pro gives you real-time options trades alerts.