Looking At Micron Technology's Recent Unusual Options Activity

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 36 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 27% leaning bullish and 66% bearish. Among these notable options, 8 are puts, totaling $386,191, and 28 are calls, amounting to $1,631,443.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $250.0 for Micron Technology during the past quarter.

Volume & Open Interest Trends

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 $80.0 to $250.0 in the last 30 days.

Micron Technology 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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

Micron Technology's Current Market Status

• Trading volume stands at 9,339,049, with MU's price down by -3.16%, positioned at $104.76.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 49 days.

What Analysts Are Saying About Micron Technology

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $142.5.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Micron Technology with a target price of $135. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $150.

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.