Looking At Microchip Technology's Recent Whale Trades

Looking At Microchip Technology's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bearish stance on Microchip Technology.

Looking at options history for Microchip Technology MCHP we detected 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 7% of the investors opened trades with bullish expectations and 92% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $409,880 and 3, calls, for a total amount of $194,690.

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 $60.0 to $70.0 for Microchip Technology over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Microchip Technology options trades today is 1746.5 with a total volume of 3,886.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Microchip Technology's big money trades within a strike price range of $60.0 to $70.0 over the last 30 days.

Microchip Technology 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
MCHP CALL SWEEP BEARISH 02/17/23 $70.00 $126.5K 638 402
MCHP PUT TRADE NEUTRAL 01/20/23 $60.00 $68.1K 4.4K 307
MCHP PUT TRADE NEUTRAL 01/20/23 $60.00 $56.5K 4.4K 382
MCHP PUT TRADE BEARISH 01/20/23 $62.50 $48.9K 1.1K 396
MCHP PUT TRADE NEUTRAL 01/20/23 $60.00 $39.2K 4.4K 92

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MCHP CALL SWEEP BEARISH 02/17/23 $70.00 $126.5K 638 402
MCHP PUT TRADE NEUTRAL 01/20/23 $60.00 $68.1K 4.4K 307
MCHP PUT TRADE NEUTRAL 01/20/23 $60.00 $56.5K 4.4K 382
MCHP PUT TRADE BEARISH 01/20/23 $62.50 $48.9K 1.1K 396
MCHP PUT TRADE NEUTRAL 01/20/23 $60.00 $39.2K 4.4K 92

Where Is Microchip Technology Standing Right Now?

  • With a volume of 1,906,198, the price of MCHP is down -0.37% at $61.76.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 34 days.

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

Posted In: BZI-UOAOptionsMarkets