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 31 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 32% leaning bullish and 54% bearish. Among these notable options, 12 are puts, totaling $1,617,440, and 19 are calls, amounting to $1,033,413.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $135.0 for Micron Technology over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 2287.48 with a total volume of 6,031.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Micron Technology's big money trades within a strike price range of $50.0 to $135.0 over 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 | PUT | TRADE | NEUTRAL | 03/21/25 | $2.73 | $2.62 | $2.68 | $60.00 | $428.8K | 51 | 1.6K |
| MU | PUT | SWEEP | BULLISH | 09/06/24 | $4.45 | $4.3 | $4.37 | $91.00 | $313.8K | 1.6K | 22 |
| MU | PUT | SWEEP | NEUTRAL | 09/13/24 | $3.95 | $3.85 | $3.9 | $89.00 | $280.3K | 243 | 819 |
| MU | CALL | SWEEP | BULLISH | 12/20/24 | $38.0 | $37.4 | $37.78 | $50.00 | $188.8K | 30 | 50 |
| MU | PUT | TRADE | BULLISH | 09/27/24 | $7.45 | $7.3 | $7.35 | $90.00 | $183.7K | 2.0K | 254 |
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
- With a trading volume of 7,637,442, the price of MU is down by -2.98%, reaching $86.73.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 19 days from now.
What Analysts Are Saying About Micron Technology
In the last month, 2 experts released ratings on this stock with an average target price of $157.5.
- An analyst from Needham has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $140.
- An analyst from Susquehanna persists with their Positive rating on Micron Technology, maintaining a target price of $175.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
