MCHP reported earnings on May 7th with strong results. It looks like some institution or large fund dropped around $300M on ~100,000 09/18/26 ITM MCHP calls a couple days ago as well. For a trade of this magnitude I would expect to see more info/coverage on this so I might be reading it wrong but f it we ball
Position:
20x 09/18/26 100C cause i’m greedy
https://i.redd.it/wmqujfv0xd0h1.jpeg
Posted by Cool_Negotiation_648
6 Comments
we ball indeed
Where do you see this?
Getting my balls ready for tomorrow
Looks like an ITM bear call spread, no? The lower $55 strike calls were sold below mid-market on the bid/ask spread. The $75 strike calls were sold closer to ask, above mid-market on the bid/ask spread.
Not everyone that buys calls is hoping for a stock to go up lmao
Not that it means much but they put the CEO of this company on the board of Intel at the very BOTTOM. I’m talkin dec 2024..