Deep-pocketed investors have adopted a bearish approach towards Credo Technology Group (NASDAQ: CRDO), and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CRDO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga’s options scanner highlighted 47 extraordinary options activities for Credo Technology Group. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 48% bearish. Among these notable options, 11 are puts, totaling $958,640, and 36 are calls, amounting to $2,183,418.
What’s The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $220.0 for Credo Technology Group during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Credo Technology Group options trades today is 411.33 with a total volume of 2,493.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Credo Technology Group’s big money trades within a strike price range of $35.0 to $220.0 over the last 30 days.
Credo Technology Group Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
About Credo Technology Group
Credo Technology Group Holding Ltd delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides secure, high-speed connectivity solutions that deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market. It has a geographic presence in Hong Kong, the United States, Mainland China, Taiwan, and the Rest of the World.
Having examined the options trading patterns of Credo Technology Group, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Credo Technology Group
With a trading volume of 5,586,562, the price of CRDO is down by -7.43%, reaching $138.28.
Current RSI values indicate that the stock is may be approaching overbought.
Next earnings report is scheduled for 67 days from now.
What The Experts Say On Credo Technology Group
5 market experts have recently issued ratings for this stock, with a consensus target price of $159.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Barclays has decided to maintain their Overweight rating on Credo Technology Group, which currently sits at a price target of $165. * Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Credo Technology Group with a target price of $150. * Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Credo Technology Group with a target price of $155. * Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Credo Technology Group, targeting a price of $160. * Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Credo Technology Group, targeting a price of $165.