Deep-pocketed investors have adopted a bullish approach towards Credo Technology Group (NASDAQ:CRDO), 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 CRDO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 20 extraordinary options activities for Credo Technology Group. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 30% bearish. Among these notable options, 4 are puts, totaling $165,190, and 16 are calls, amounting to $996,466.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $17.5 to $50.0 for Credo Technology Group over the last 3 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 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 $17.5 to $50.0 in the last 30 days.
Credo Technology Group Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRDO | CALL | TRADE | NEUTRAL | 01/15/27 | $24.6 | $24.1 | $24.36 | $20.00 | $121.8K | 59 | 80 |
| CRDO | CALL | SWEEP | BULLISH | 04/17/25 | $1.6 | $1.55 | $1.55 | $45.00 | $97.1K | 927 | 3.6K |
| CRDO | CALL | SWEEP | BULLISH | 04/17/25 | $1.65 | $1.55 | $1.55 | $45.00 | $78.4K | 927 | 2.9K |
| CRDO | CALL | SWEEP | BEARISH | 01/15/27 | $25.4 | $23.5 | $24.1 | $20.00 | $72.2K | 59 | 30 |
| CRDO | CALL | SWEEP | BULLISH | 04/17/25 | $1.65 | $1.5 | $1.65 | $45.00 | $66.9K | 927 | 5.5K |
About Credo Technology Group
Credo Technology Group Holding Ltd delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides secure, high-speed connectivity solutions that deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market. It has a geographic presence in Hong Kong, the United States, Mainland China, Taiwan, and the Rest of the World.
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
- Currently trading with a volume of 4,819,839, the CRDO's price is down by -0.89%, now at $40.15.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 58 days.
What The Experts Say On Credo Technology Group
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $68.75.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from B of A Securities persists with their Buy rating on Credo Technology Group, maintaining a target price of $75. * An analyst from Susquehanna upgraded its action to Positive with a price target of $60. * Maintaining their stance, an analyst from Susquehanna continues to hold a Neutral rating for Credo Technology Group, targeting a price of $60. * An analyst from Needham downgraded its action to Buy with a price target of $80.
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 Credo Technology Group with Benzinga Pro for real-time alerts.
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