Bearish flow noted in Microchip with 6,795 puts trading, or 7x expected. Most active are Aug-24 87.5 puts and Aug-24 75 puts, with total volume in those strikes near 5,700 contracts. The Put/Call Ratio is 3.24, while ATM IV is up over 1 point on the day. Earnings are expected on August 1st.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MCHP:
- Microchip Technology Introduces a New Core in the dsPIC® Digital Signal Controller Family to Enhance Precision and Execution of Real-Time Control
- MCHP Upcoming Earnings Report: What to Expect?
- Citi reiterates Sell on NXP amid worsening auto end market
- Microchip put volume heavy and directionally bearish
- Chip makers and suppliers slide as U.S. said to consider new export restrictions