Wolfspeed Shares Plunge Amid Bearish Options Activity

Despite announcing a promising strategic partnership earlier in the week, Wolfspeed’s stock experienced a sharp decline during Tuesday’s trading session. A surge in bearish options trading overshadowed the company’s recent operational developments, driving the share price down by more than 5%.

The equity dropped as much as 5.23% intraday, falling $0.94 to approximately $16.95. This downward movement was primarily fueled by significant bearish options flow, with put options substantially outpacing call options in trading volume. The put-call ratio reached 1.9, indicating nearly twice as many bearish bets as bullish positions.

On Monday, Wolfspeed had revealed a new collaboration with Hopewind, a leading provider of wind power converters. The partnership involves Read more...