Microchip Technology Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Microchip Technology (NASDAQ:MCHP) with unusual options activity. Benzinga's options scanner spotted 15 options trades for Microchip Technology, with 93% bearish sentiment. Whales have been targeting a price range from $75.0 to $80.0 for Microchip Technology over the last 3 months. The price of MCHP is up 0.48% at $83.86. Several experts have maintained their positive ratings on Microchip Technology with price targets ranging from $100 to $110.
August 07, 2023 | 5:30 pm
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NEGATIVE IMPACT
Microchip Technology has seen unusual options activity with a significant bearish sentiment. The stock price is currently up 0.48% at $83.86. Analysts have maintained positive ratings with price targets ranging from $100 to $110.
The unusual options activity, particularly the bearish sentiment, indicates that traders expect the stock price to decrease. However, analysts have maintained positive ratings with high price targets, suggesting a potential upside. The current stock price is up, adding to the complexity of the situation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100