Deep-pocketed investors have adopted a bullish approach towards Micron Technology MU, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Micron Technology. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 41% leaning bullish and 41% bearish. Among these notable options, 3 are puts, totaling $229,180, and 14 are calls, amounting to $2,498,018.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $150.0 for Micron Technology over the recent three months.
Volume & Open Interest Trends
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 $100.0 to $150.0, over the past month.
Micron Technology Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BEARISH | 01/17/25 | $47.05 | $45.95 | $45.95 | $100.00 | $459.5K | 9.4K | 90 |
| MU | CALL | SWEEP | BEARISH | 07/19/24 | $11.85 | $11.0 | $11.0 | $140.00 | $441.1K | 14.4K | 5 |
| MU | CALL | TRADE | NEUTRAL | 01/16/26 | $34.45 | $32.45 | $33.5 | $150.00 | $335.0K | 1.0K | 102 |
| MU | CALL | TRADE | BEARISH | 01/16/26 | $34.65 | $33.35 | $33.35 | $150.00 | $333.5K | 1.0K | 2 |
| MU | CALL | TRADE | BULLISH | 06/20/25 | $52.2 | $50.1 | $51.36 | $100.00 | $225.9K | 1.3K | 141 |
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.
Present Market Standing of Micron Technology
- Currently trading with a volume of 2,695,684, the MU's price is down by -0.43%, now at $138.41.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 1 days.
What The Experts Say On Micron Technology
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $185.4.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Micron Technology with a target price of $185.
- An analyst from Baird has decided to maintain their Outperform rating on Micron Technology, which currently sits at a price target of $172.
- Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Micron Technology with a target price of $155.
- An analyst from Wells Fargo persists with their Overweight rating on Micron Technology, maintaining a target price of $190.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Micron Technology, targeting a price of $225.
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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