Wolfspeed Whale Trades Spotted

 

Someone with a lot of money to spend has taken a bearish stance on Wolfspeed WOLF.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 43 uncommon options trades for Wolfspeed.

This isn't normal.

The overall sentiment of these big-money traders is split between 27% bullish and 72%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $553,210, and 41 are calls, for a total amount of $5,093,768.

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 $80.0 to $135.0 for Wolfspeed over the last 3 months.

Volume & Open Interest Development

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 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 trades within a strike price range from $80.0 to $135.0 in the last 30 days.

Wolfspeed Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
WOLF CALL SWEEP BEARISH 01/20/23 $92.50 $610.4K 620 218
WOLF PUT SWEEP BEARISH 09/16/22 $110.00 $487.2K 226 853
WOLF CALL TRADE BEARISH 08/19/22 $90.00 $402.6K 3.2K 2.7K
WOLF CALL SWEEP BULLISH 12/16/22 $95.00 $307.0K 1.5K 502
WOLF CALL SWEEP BULLISH 12/16/22 $95.00 $276.8K 1.5K 80

Where Is Wolfspeed Standing Right Now?

  • With a volume of 8,894,435, the price of WOLF is up 29.35% at $110.79.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 69 days.

What The Experts Say On Wolfspeed:

  • BMO Capital has decided to maintain their Market Perform rating on Wolfspeed, which currently sits at a price target of $100.
  • Oppenheimer has decided to maintain their Outperform rating on Wolfspeed, which currently sits at a price target of $120.
  • Cowen & Co. has decided to maintain their Outperform rating on Wolfspeed, which currently sits at a price target of $125.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Wolfspeed, which currently sits at a price target of $106.
  • Citigroup has decided to maintain their Buy rating on Wolfspeed, which currently sits at a price target of $115.

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.

Date of Trade
▲▼
ticker
▲▼
Put/Call
▲▼
Strike Price
▲▼
DTE
▲▼
Sentiment
▲▼
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...