Microchip Technology (MCHP, Financial) has seen a notable increase in bearish options trading, with 1,587 put contracts changing hands, surpassing the usual expectations by 10%. Noteworthy activity includes the June 2025 69 and 67.5 strike puts, with these contracts accounting for nearly 1,500 of the total volume.
The Put/Call Ratio for MCHP stands at 5.88, indicating a larger proportion of put options relative to calls. Additionally, the at-the-money implied volatility has risen by over one point. Investors are keeping a close watch as the company's earnings announcement is scheduled for August 7th.
