Bearish flow noted in Microchip with 1,888 puts trading, or 5x expected. Most active are Oct-24 85 puts and Sep-24 90 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 2.34, while ATM IV is up over 1 point on the day. Earnings are expected on August 1st.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MCHP:
- Chip makers and suppliers slide as U.S. said to consider new export restrictions
- Trump tells Bloomberg Businessweek Taiwan should pay U.S. for defense
- U.S. mulls tougher trading curbs in chip crackdown on China, Bloomberg reports
- Microchip price target raised to $115 from $105 at Susquehanna
- Microchip and Roblox downgraded: Wall Street’s top analyst calls