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 75 uncommon options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 38%, bearish.
Out of all of the special options we uncovered, 12 are puts, for a total amount of $528,959, and 63 are calls, for a total amount of $3,936,463.
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 $65.0 to $180.0 for Micron Technology during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Micron Technology's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Micron Technology's substantial trades, within a strike price spectrum from $65.0 to $180.0 over the preceding 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 | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BULLISH | 09/20/24 | $40.1 | $40.1 | $40.1 | $90.00 | $160.4K | 3.5K | 54 |
| MU | CALL | TRADE | BEARISH | 06/20/25 | $42.05 | $41.75 | $41.87 | $97.50 | $125.6K | 308 | 30 |
| MU | CALL | SWEEP | BEARISH | 01/17/25 | $5.35 | $5.25 | $5.25 | $180.00 | $118.1K | 2.0K | 580 |
| MU | PUT | SWEEP | BULLISH | 12/20/24 | $11.4 | $11.3 | $11.3 | $120.00 | $113.0K | 275 | 101 |
| MU | CALL | SWEEP | BULLISH | 05/17/24 | $8.5 | $8.45 | $8.5 | $118.00 | $109.6K | 1.4K | 330 |
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
Micron Technology's Current Market Status
- Trading volume stands at 9,352,309, with MU's price up by 1.75%, positioned at $127.0.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 42 days.
What Analysts Are Saying About Micron Technology
2 market experts have recently issued ratings for this stock, with a consensus target price of $147.5.
- An analyst from Baird has elevated its stance to Outperform, setting a new price target at $150.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Micron Technology, targeting a price of $145.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Micron Technology options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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