Financial giants have made a conspicuous bullish move on Micron Technology. Our analysis of options history for Micron Technology MU revealed 27 unusual trades.
Delving into the details, we found 51% of traders were bullish, while 48% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $207,410, and 22 were calls, valued at $1,237,348.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $100.0 for Micron Technology, spanning the last three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Micron Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Micron Technology's significant trades, within a strike price range of $70.0 to $100.0, over the past month.
Micron Technology 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BEARISH | 04/19/24 | $100.00 | $296.2K | 10.8K | 1.5K |
| MU | CALL | SWEEP | NEUTRAL | 02/02/24 | $88.00 | $96.6K | 931 | 1.1K |
| MU | PUT | SWEEP | BEARISH | 02/02/24 | $95.00 | $91.5K | 800 | 115 |
| MU | CALL | SWEEP | BULLISH | 02/02/24 | $88.00 | $85.0K | 931 | 3.4K |
| MU | CALL | SWEEP | BEARISH | 02/02/24 | $88.00 | $71.5K | 931 | 4.0K |
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.
Micron Technology's Current Market Status
- Currently trading with a volume of 6,202,790, the MU's price is down by -2.21%, now at $87.23.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 60 days.
What Analysts Are Saying About Micron Technology
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $102.5.
- An analyst from Raymond James has decided to maintain their Outperform rating on Micron Technology, which currently sits at a price target of $100.
- An analyst from Piper Sandler upgraded its action to Overweight with a price target of $95.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Micron Technology, targeting a price of $115.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $100.
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.
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