Check Out What Whales Are Doing With WOLF

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 trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Wolfspeed.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 60%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $115,265, and 7 are calls, for a total amount of $295,260.

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Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $3.0 and $30.0 for Wolfspeed, spanning the last three months.

Analyzing Volume & Open Interest

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 $3.0 to $30.0 in the last 30 days.

Wolfspeed Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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 its revenue from Europe and the rest from the United States, China, Hong Kong, Asia Pacific, and other regions.

Current Position of Wolfspeed

• With a trading volume of 49,784,204, the price of WOLF is up by 24.83%, reaching $4.08.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 10 days from now.

What The Experts Say On Wolfspeed

1 market experts have recently issued ratings for this stock, with a consensus target price of $8.0.

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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 Goldman Sachs has decided to maintain their Buy rating on Wolfspeed, which currently sits at a price target of $8.

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 Wolfspeed, Benzinga Pro gives you real-time options trades alerts.