Financial giants have made a conspicuous bearish move on Micron Technology. Our analysis of options history for Micron Technology MU revealed 55 unusual trades.
Delving into the details, we found 38% of traders were bullish, while 43% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $1,019,614, and 44 were calls, valued at $2,833,951.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $72.5 to $165.0 for Micron Technology over the recent three months.
Insights into 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 $72.5 to $165.0 over the preceding 30 days.
Micron Technology Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | PUT | TRADE | BEARISH | 01/16/26 | $22.9 | $21.65 | $22.6 | $130.00 | $361.6K | 96 | 0 |
| MU | CALL | SWEEP | NEUTRAL | 08/16/24 | $9.0 | $8.85 | $8.9 | $130.00 | $259.8K | 6.7K | 378 |
| MU | PUT | TRADE | BEARISH | 08/16/24 | $5.85 | $5.75 | $5.85 | $130.00 | $175.5K | 5.1K | 162 |
| MU | CALL | SWEEP | NEUTRAL | 07/19/24 | $60.25 | $59.15 | $59.2 | $72.50 | $171.6K | 18.4K | 286 |
| MU | CALL | SWEEP | BULLISH | 12/19/25 | $31.2 | $30.6 | $31.2 | $135.00 | $156.0K | 3.2K | 7 |
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.
Current Position of Micron Technology
- Currently trading with a volume of 8,796,672, the MU's price is up by 1.09%, now at $133.03.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 79 days.
Expert Opinions on Micron Technology
5 market experts have recently issued ratings for this stock, with a consensus target price of $174.0.
- An analyst from Wedbush downgraded its action to Outperform with a price target of $170.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Micron Technology, targeting a price of $175.
- An analyst from UBS has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target 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 JP Morgan continues to hold a Overweight rating for Micron Technology, targeting a price of $180.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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