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 24 uncommon options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 41%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $82,513, and 22 are calls, for a total amount of $1,261,145.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $82.5 to $135.0 for Micron Technology during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 3450.54 with a total volume of 8,310.00.
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 $82.5 to $135.0 over the last 30 days.
Micron Technology Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | NEUTRAL | 04/19/24 | $82.50 | $106.0K | 5.0K | 115 |
| MU | CALL | SWEEP | BULLISH | 09/20/24 | $100.00 | $75.0K | 2.6K | 200 |
| MU | CALL | SWEEP | BULLISH | 09/20/24 | $100.00 | $74.9K | 2.6K | 400 |
| MU | CALL | SWEEP | BULLISH | 09/20/24 | $100.00 | $74.9K | 2.6K | 0 |
| MU | CALL | TRADE | BULLISH | 09/20/24 | $100.00 | $74.6K | 2.6K | 300 |
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.
Having examined the options trading patterns of Micron Technology, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Micron Technology Standing Right Now?
- Currently trading with a volume of 716,219, the MU's price is down by -1.52%, now at $90.45.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 21 days.
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 Micron Technology, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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