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 27 uncommon options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 51%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $187,766, and 23 are calls, for a total amount of $1,297,669.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $185.0 for Micron Technology over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Micron Technology's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Micron Technology's whale activity within a strike price range from $100.0 to $185.0 in the last 30 days.
Micron Technology Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BEARISH | 10/18/24 | $15.9 | $15.5 | $15.5 | $165.00 | $204.6K | 8.3K | 1.5K |
| MU | CALL | TRADE | NEUTRAL | 08/16/24 | $60.85 | $55.85 | $58.55 | $100.00 | $117.1K | 1.7K | 0 |
| MU | CALL | SWEEP | NEUTRAL | 10/18/24 | $13.6 | $13.55 | $13.6 | $170.00 | $112.9K | 730 | 4.2K |
| MU | CALL | TRADE | BEARISH | 09/20/24 | $22.75 | $20.6 | $20.6 | $150.00 | $100.9K | 3.6K | 0 |
| MU | CALL | TRADE | BULLISH | 10/18/24 | $13.5 | $13.4 | $13.5 | $170.00 | $70.2K | 730 | 4.4K |
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
- Currently trading with a volume of 11,658,714, the MU's price is down by -2.02%, now at $150.35.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 6 days.
Professional Analyst Ratings for Micron Technology
5 market experts have recently issued ratings for this stock, with a consensus target price of $167.0.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Micron Technology, targeting a price of $185.
- Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Micron Technology with a target price of $155.
- An analyst from Mizuho persists with their Buy rating on Micron Technology, maintaining a target price of $155.
- An analyst from B of A Securities has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $170.
- An analyst from Wedbush has decided to maintain their Outperform rating on Micron Technology, which currently sits at a price target of $170.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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