Big-spending whales are clearly bearish on microchip technology.
Looking at the options history for Microchip Technology MCHP, we found 8 trades.
Considering the details of each trade, it would be accurate to state that 25% of investors entered trades with bullish expectations and 50% entered trades with bearish expectations.
Of the total spot trades, there were six puts totaling $308,300 and two calls totaling $65,880.
Estimated Price Target
After evaluating trading volume and open interest, it becomes clear that key market movers have been keeping an eye on Microchip Technology’s price range of $80.0 to $92.5 over the past three months.
Trading Volume and Open Interest Analysis
Looking at volume and open interest can provide important insights into stock research. This information is important in gauging the liquidity and interest level for Microchip Technology options at specific strike prices. Below is a snapshot of volume and open interest trends for calls and puts in some of Microchip Technology’s most significant trades over the past month within the strike price range of $80.0 – $92.5.
A snapshot of trading volume and interest in Microchip Technology 30-day options
The biggest options found are:
Symbol PUT/CALL Trade Type Sentiment Exp. Date Sell Buy Price Strike Total Traded Open Interest Volume MCHP PUT TRADE BULLISH 08/16/24 $0.95 $0.8 $0.86 $80.00 $146.2K 3.8K 1.7K MCHP CALL TRADE BULLISH 09/20/24 $3.7 $3.4 $3.6 $92.50 $38.8K 517 708 MCHP PUT SWEEP BEARISH 10/18/24 $6.0 $5.9 $6.0 $87.50 $36.0K 890 220 MCHP PUT SWEEP BEARISH 10/18/24 $6.1 $6.0 $6.1 $87.50 $35.3K 890 392 MCHP PUT SWEEP NEUTRAL 10/18/24 $4.8 $4.7 $4.8 $85.00 $33.6K 2.6K 489
About Microchip Technology
Microchip Technology was spun out of General Instrument in 1989. More than half of the company’s revenue comes from MCUs, which are used in a wide variety of electronic devices, from remote controls to garage door openers to power windows in cars. The company’s strengths lie in low-end 8-bit MCUs, which are suitable for a wide variety of less technologically advanced devices, but it also has a growing presence in high-end MCUs and analog chips.
Now that we have looked at Microchip Technology’s options trading patterns, we can turn our attention to the company itself. This shift allows us to take a closer look at the company’s current market position and performance.
Where does microchip technology stand now?
Trading volume was 611,458, with MCHP’s price dropping -0.13% to $87.85. The current RSI reading indicates that the stock is currently neutral between overbought and oversold. The next earnings report is due in 2 days.
Analyst Views on Microchip Technology
Two market experts have recently issued their ratings on the stock, with the consensus target price coming in at $107.5.
Morgan Stanley analysts downgraded the company to equal weight and set a price target of $100. Susquehanna analysts decided to maintain a positive rating on Microchip Technology and currently have a price target of $115 for the company.
Options are a higher risk asset than stock trading alone, but they also offer a higher potential for profit. Serious options traders manage this risk by educating themselves daily, sizing their trades, following multiple indicators, and tracking the markets closely.
If you want to stay up to date with the latest options trades on Microchip Technology, Benzinga Pro provides real-time options trading alerts.
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