Looking At Micron Technology's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish 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 37 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $238,212, and 31 are calls, for a total amount of $1,961,476.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $135.0 for Micron Technology over the last 3 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 $60.0 to $135.0, over the past month.

Micron Technology 30-Day Option Volume & Interest Snapshot

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.

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

Current Position of Micron Technology

• Trading volume stands at 8,109,624, with MU's price up by 0.41%, positioned at $119.29.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 91 days.

Expert Opinions on Micron Technology

5 market experts have recently issued ratings for this stock, with a consensus target price of $122.6.

• Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Micron Technology with a target price of $140.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Micron Technology, targeting a price of $130.
• Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Micron Technology, targeting a price of $103.
• Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Micron Technology, targeting a price of $120.
• Showing optimism, an analyst from Stifel upgrades its rating to Buy with a revised price target of $120.

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.