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 16 uncommon options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 56% bullish and 37%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $185,673, and 11 are calls, for a total amount of $3,111,931.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $87.5 and $180.0 for Micron Technology, spanning the last three months.
Insights into Volume & Open Interest
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 $87.5 to $180.0 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 | $11.2 | $11.05 | $11.06 | $140.00 | $2.3M | 3.5K | 25 |
| MU | CALL | TRADE | BEARISH | 01/16/26 | $34.5 | $31.95 | $31.95 | $135.00 | $159.7K | 275 | 0 |
| MU | CALL | TRADE | BULLISH | 01/16/26 | $41.1 | $41.05 | $41.1 | $115.00 | $119.1K | 251 | 0 |
| MU | CALL | SWEEP | BEARISH | 07/05/24 | $1.88 | $1.84 | $1.86 | $132.00 | $101.4K | 6.5K | 0 |
| MU | CALL | TRADE | BULLISH | 08/16/24 | $25.0 | $24.15 | $25.0 | $110.00 | $100.0K | 812 | 0 |
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.
Following our analysis of the options activities associated with Micron Technology, we pivot to a closer look at the company's own performance.
Where Is Micron Technology Standing Right Now?
- With a volume of 2,945,191, the price of MU is up 0.2% at $132.86.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 84 days.
Professional Analyst Ratings for Micron Technology
5 market experts have recently issued ratings for this stock, with a consensus target price of $185.4.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Micron Technology, which currently sits at a price target of $190.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Micron Technology, targeting a price of $170.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Micron Technology, targeting a price of $225.
- Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Micron Technology, targeting a price of $172.
- An analyst from Wedbush persists with their Outperform rating on Micron Technology, maintaining a target price of $170.
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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