A Closer Look at Micron Technology's Options Market Dynamics

Investors with a lot of money to spend have taken a bullish stance on Micron Technology MU.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MU, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $97,530, and 6 are calls, for a total amount of $433,726.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $87.5 for Micron Technology over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 2147.62 with a total volume of 1,254.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Micron Technology's big money trades within a strike price range of $50.0 to $87.5 over the last 30 days.

Micron Technology Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About Micron Technology

Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips. Its primary revenue stream comes from dynamic random access memory, or DRAM, and it also has minority exposure to not-and or NAND, flash chips. Micron serves a global customer base, selling chips into data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.

After a thorough review of the options trading surrounding Micron Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Micron Technology Standing Right Now?

• Trading volume stands at 3,541,123, with MU's price up by 2.4%, positioned at $85.28.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 68 days.

Expert Opinions on Micron Technology

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $102.4.

• Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Micron Technology, targeting a price of $100.
• An analyst from Wells Fargo persists with their Overweight rating on Micron Technology, maintaining a target price of $95.
• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Micron Technology, targeting a price of $97.
• Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Micron Technology, targeting a price of $115.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Micron Technology with a target price of $105.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Micron Technology with Benzinga Pro for real-time alerts.