Microchip Technology Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Unusual options activity has been observed in Microchip Technology (NASDAQ:MCHP), with a bearish stance taken by a large investor. Benzinga's options scanner spotted 10 uncommon options trades, with 80% being bearish and 20% bullish. Whales have been targeting a price range of $80 to $90 for MCHP over the last 3 months.
May 26, 2023 | 7:33 pm
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A large investor has taken a bearish stance on Microchip Technology (NASDAQ:MCHP) with unusual options activity. 80% of the trades are bearish, and whales have been targeting a price range of $80 to $90.
The unusual options activity, with 80% being bearish, indicates that a large investor is expecting the stock price to decline in the short term. This could have a negative impact on the stock price as other investors may follow suit or react to the bearish sentiment. The targeted price range of $80 to $90 by whales also suggests that they expect the stock to trade within this range, which could influence the stock's movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100