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Decoding GLOBALFOUNDRIES’s Options Activity: What’s the Big Picture?

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Whales with a lot of money to spend have taken a noticeably bearish stance on GLOBALFOUNDRIES.

Looking at options history for GLOBALFOUNDRIES GFS we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $208,104 and 2, calls, for a total amount of $158,000.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $65.0 for GLOBALFOUNDRIES over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for GLOBALFOUNDRIES options trades today is 242.6 with a total volume of 8,378.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for GLOBALFOUNDRIES’s big money trades within a strike price range of $45.0 to $65.0 over the last 30 days.

GLOBALFOUNDRIES Option Volume And Open Interest Over Last 30 Days

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Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GFS CALL SWEEP BULLISH 08/16/24 $65.00 $124.8K 118 315
GFS PUT SWEEP BEARISH 03/15/24 $55.00 $49.6K 174 2.1K
GFS PUT SWEEP BEARISH 03/15/24 $45.00 $40.1K 235 2.1K
GFS PUT TRADE NEUTRAL 04/19/24 $55.00 $35.0K 270 100
GFS CALL TRADE BEARISH 01/17/25 $50.00 $33.2K 416 50

About GLOBALFOUNDRIES

GlobalFoundries is a top-five contract semiconductor manufacturer globally. It was originally the manufacturing arm of Advanced Micro Devices before it was spun out in 2009. The foundry sells chips into a range of end markets including smartphones, PCs, Internet of Things, data centers, automotive, industrial, and so on, but primarily focuses on more mature process technologies. Until 2021, the firm was privately held by Mubadala Investment, the sovereign wealth fund of the United Arab Emirates. GlobalFoundries merged with Chartered Semiconductor Manufacturing in 2009 and acquired IBM’s chipmaking business in 2015. GF is headquartered in Malta, New York, and employs about 14,000 people.

Following our analysis of the options activities associated with GLOBALFOUNDRIES, we pivot to a closer look at the company’s own performance.

GLOBALFOUNDRIES’s Current Market Status

  • With a volume of 1,926,762, the price of GFS is up 0.25% at $56.08.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 1 days.

What The Experts Say On GLOBALFOUNDRIES

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $63.0.

  • An analyst from JP Morgan downgraded its action to Neutral with a price target of $56.
  • Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $70.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for GLOBALFOUNDRIES, Benzinga Pro gives you real-time options trades alerts.

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