Microchip Technology Unusual Options Activity For August 03
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been observed in the options activity for Microchip Technology (NASDAQ:MCHP). Out of the 10 unusual trades detected, 70% were bearish and 30% bullish. The total amount for the 8 puts was $766,785 and for the 2 calls was $182,610. Whales have been targeting a price range from $70.0 to $90.0 for Microchip Technology over the last 3 months. The current price of MCHP is $90.27.
August 04, 2023 | 2:05 pm
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Bearish options activity observed for Microchip Technology. Majority of the unusual trades were bearish, indicating a potential downward price movement in the short term.
The bearish stance in the options activity indicates that investors are expecting the price of Microchip Technology to go down. This is further supported by the fact that the majority of the unusual trades were bearish. Therefore, it is likely that the price of MCHP will experience a downward movement in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100