Someone who has a lot of money to spend has taken a bullish stance on this microchip technology MCHP,
And retail traders should know.
We noticed this today when large positions appeared on the publicly available options history that we track here at Benzinga.
Whether it is some institution or just a wealthy person, we do not know. But when something this big happens with MCHP, it often means that someone knows something is about to happen.
So how do we know what this whale just did?
Today, benzingaK Options Scanner spotted 10 unusual options trades for Microchip Technology.
this is not normal.
The overall sentiment among these big money traders is split between 50% bullish and 50% bearish.
Of all the special options we have open, 6 are puts, for a total amount of $485,540, and 4 are calls, for a total amount of $428,590.
What is a price target?
Considering the volume and open interest on these contracts, it appears that whales are targeting a price range of $70.0 to $80.0 for Microchip Technology over the past 3 months.
Volume and Open Interest Development
In terms of liquidity and interest, the average open interest for Microchip Technology options trades today stood at 823.5 with a total volume of 2,039.00.
In the following chart, we are able to follow the development of call and put options volume and open interest for Microchip Technology’s large money trades within the strike price range of $70.0 to $80.0 over the past 30 days.
Microchip Technology Options Volume and Open Interest over the last 30 days
Largest options seen:
| Sign | put/call | business type | Rate | Exp. date | strike price | net trade value | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MCHP | call | sweep | recession | 10/20/23 | $70.00 | $293.1K | 49 | 55 |
| MCHP | Keep | sweep | fast | 01/19/24 | $77.50 | $164.0K | 765 | 200 |
| MCHP | Keep | sweep | fast | 01/19/24 | $80.00 | $109.4K | 1.5 thousand | 420 |
| MCHP | Keep | sweep | fast | 01/19/24 | $80.00 | $72.5K | 1.5 thousand | 263 |
| MCHP | Keep | sweep | recession | 01/19/24 | $80.00 | $72.5K | 1.5 thousand | 78 |
| Sign | put/call | business type | Rate | Exp. date | strike price | net trade value | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MCHP | call | sweep | recession | 10/20/23 | $70.00 | $293.1K | 49 | 55 |
| MCHP | Keep | sweep | fast | 01/19/24 | $77.50 | $164.0K | 765 | 200 |
| MCHP | Keep | sweep | fast | 01/19/24 | $80.00 | $109.4K | 1.5 thousand | 420 |
| MCHP | Keep | sweep | fast | 01/19/24 | $80.00 | $72.5K | 1.5 thousand | 263 |
| MCHP | Keep | sweep | recession | 01/19/24 | $80.00 | $72.5K | 1.5 thousand | 78 |
Where does microchip technology stand now?
- MCHP price is down -1.72% to $79.38, with a volume of 1,730,674.
- The RSI indicator is indicating that the underlying stock is currently trading in a neutral position between overbought and oversold.
- The next earnings release is expected in 19 days.
Options are a riskier asset than stock trading, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scalping 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 thanks to Microchip technology, benzinga pro Provides you with real-time options trade alerts.
