Unpacking the Latest Options Trading Trends in Credo Technology Group

High-rolling investors have positioned themselves bullish on Credo Technology Group CRDO, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CRDO often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 9 options trades for Credo Technology Group. This is not a typical pattern.

The sentiment among these major traders is split, with 55% bullish and 22% bearish. Among all the options we identified, there was one put, amounting to $36,000, and 8 calls, totaling $383,222.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $100.0 for Credo Technology Group over the recent three months.

Volume & Open Interest Trends

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 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 activity within a strike price range from $50.0 to $100.0 in the last 30 days.

Credo Technology Group 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

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

Present Market Standing of Credo Technology Group

• With a volume of 3,420,113, the price of CRDO is down -0.24% at $78.98.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 78 days.

What The Experts Say On Credo Technology Group

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $85.0.

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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. * Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Credo Technology Group, targeting a price of $80. * An analyst from Susquehanna has decided to maintain their Positive rating on Credo Technology Group, which currently sits at a price target of $90. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Credo Technology Group with a target price of $85. * An analyst from Needham has decided to maintain their Buy rating on Credo Technology Group, which currently sits at a price target of $85.

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 Credo Technology Group options trades with real-time alerts from Benzinga Pro.