Deep-pocketed investors have adopted a bearish 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 113 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 44% bearish. Among these notable options, 31 are puts, totaling $2,739,052, and 82 are calls, amounting to $8,134,916.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $220.0 for Micron Technology during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $40.0 to $220.0 in the last 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 | CALL | SWEEP | BULLISH | 02/21/25 | $13.55 | $13.3 | $13.55 | $100.00 | $406.5K | 223 | 14 |
| MU | PUT | TRADE | BEARISH | 12/20/24 | $18.15 | $17.75 | $18.15 | $110.00 | $196.0K | 3.7K | 112 |
| MU | PUT | SWEEP | BULLISH | 01/17/25 | $16.1 | $16.0 | $16.03 | $105.00 | $160.0K | 5.9K | 601 |
| MU | PUT | TRADE | BULLISH | 01/17/25 | $16.05 | $16.0 | $16.0 | $105.00 | $160.0K | 5.9K | 361 |
| MU | PUT | TRADE | BEARISH | 01/17/25 | $15.95 | $15.95 | $15.95 | $105.00 | $159.5K | 5.9K | 261 |
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.
Present Market Standing of Micron Technology
- Trading volume stands at 23,367,983, with MU's price up by 2.92%, positioned at $97.4.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 43 days.
Professional Analyst Ratings for Micron Technology
1 market experts have recently issued ratings for this stock, with a consensus target price of $145.0.
- An analyst from Keybanc persists with their Overweight rating on Micron Technology, maintaining a target price of $145.
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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