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 13 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 46% leaning bullish and 46% bearish. Among these notable options, 6 are puts, totaling $629,001, and 7 are calls, amounting to $289,570.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $87.5 to $150.0 for Micron Technology over the last 3 months.
Insights into Volume & Open Interest
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 $87.5 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 | PUT | TRADE | NEUTRAL | 08/16/24 | $3.05 | $2.95 | $3.0 | $105.00 | $360.0K | 2.7K | 1.2K |
| MU | PUT | TRADE | BULLISH | 01/17/25 | $39.85 | $39.7 | $39.7 | $145.00 | $119.1K | 992 | 30 |
| MU | CALL | SWEEP | BULLISH | 08/30/24 | $3.05 | $2.98 | $3.04 | $115.00 | $76.0K | 332 | 49 |
| MU | PUT | SWEEP | BULLISH | 10/18/24 | $2.31 | $2.25 | $2.26 | $87.50 | $57.8K | 2.3K | 2 |
| MU | CALL | SWEEP | BEARISH | 09/20/24 | $4.6 | $4.45 | $4.5 | $115.00 | $54.4K | 4.4K | 129 |
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
Where Is Micron Technology Standing Right Now?
- Trading volume stands at 2,862,834, with MU's price down by -2.25%, positioned at $107.35.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 55 days.
What The Experts Say On Micron Technology
1 market experts have recently issued ratings for this stock, with a consensus target price of $165.0.
- An analyst from Keybanc has decided to maintain their Overweight rating on Micron Technology, which currently sits at a price target 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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