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 42 uncommon options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 42%, bearish.
Out of all of the special options we uncovered, 21 are puts, for a total amount of $1,621,247, and 21 are calls, for a total amount of $1,126,660.
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 $85.0 to $150.0 for Micron Technology over the last 3 months.
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 $85.0 to $150.0 over the preceding 30 days.
Micron Technology Option Volume And Open Interest Over 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 | PUT | SWEEP | NEUTRAL | 12/20/24 | $30.1 | $28.7 | $29.31 | $135.00 | $448.3K | 2.5K | 153 |
| MU | CALL | SWEEP | BEARISH | 03/21/25 | $23.4 | $22.8 | $22.8 | $100.00 | $171.0K | 216 | 75 |
| MU | CALL | SWEEP | BULLISH | 08/16/24 | $4.35 | $4.3 | $4.35 | $110.00 | $163.1K | 1.8K | 622 |
| MU | PUT | TRADE | BEARISH | 03/21/25 | $15.4 | $15.15 | $15.38 | $110.00 | $153.8K | 2.6K | 205 |
| MU | PUT | SWEEP | BEARISH | 03/21/25 | $15.4 | $15.15 | $15.38 | $110.00 | $153.7K | 2.6K | 105 |
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
- With a trading volume of 4,821,208, the price of MU is down by -1.71%, reaching $107.54.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 58 days from now.
What Analysts Are Saying About Micron Technology
1 market experts have recently issued ratings for this stock, with a consensus target price of $165.0.
- An analyst from Keybanc persists with their Overweight rating on Micron Technology, maintaining a target price of $165.
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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