Check Out What Whales Are Doing With MCHP

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

Looking at options history for Microchip Technology MCHP we detected 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 45% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $272,108 and 9, calls, for a total amount of $395,354.

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 $55.0 to $87.5 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 1456.0 with a total volume of 3,711.00.

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 $55.0 to $87.5 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 PUT SWEEP NEUTRAL 04/21/23 $80.00 $213.4K 3.2K 1.1K
MCHP CALL SWEEP BULLISH 01/19/24 $87.50 $101.1K 2.4K 263
MCHP CALL SWEEP NEUTRAL 01/19/24 $87.50 $59.9K 2.4K 0
MCHP PUT SWEEP BULLISH 04/21/23 $80.00 $58.6K 3.2K 273
MCHP CALL SWEEP BULLISH 01/19/24 $87.50 $50.9K 2.4K 294

Where Is Microchip Technology Standing Right Now?

  • With a volume of 1,380,418, the price of MCHP is down -2.83% at $79.33.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 33 days.

What The Experts Say On Microchip Technology:

  • Needham downgraded its action to Buy with a price target of $110

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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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