A whale with a lot of money to spend has taken a noticeably bearish stance on Micron Technology.
Looking at options history for Micron Technology MU we detected 26 strange trades.
If we consider the specifics of each trade, it is accurate to state that 23% of the investors opened trades with bullish expectations and 76% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $677,422 and 15, calls, for a total amount of $814,054.
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 $50.0 to $70.0 for Micron Technology over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 4061.14 with a total volume of 19,120.00.
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 $70.0 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BEARISH | 12/23/22 | $54.00 | $170.1K | 124 | 1.1K |
| MU | PUT | SWEEP | BEARISH | 01/19/24 | $65.00 | $146.0K | 11.3K | 201 |
| MU | CALL | SWEEP | BEARISH | 12/23/22 | $55.00 | $119.0K | 610 | 534 |
| MU | PUT | SWEEP | BEARISH | 12/23/22 | $54.00 | $96.5K | 1.5K | 452 |
| MU | CALL | SWEEP | BEARISH | 12/23/22 | $55.00 | $73.5K | 610 | 1.0K |
Where Is Micron Technology Standing Right Now?
- With a volume of 5,726,018, the price of MU is up 2.79% at $55.32.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 13 days.
What The Experts Say On Micron Technology:
- UBS has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $75.
- Needham has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $67.
- Credit Suisse downgraded its action to Outperform with a price target of $78
- Wells Fargo has decided to maintain their Overweight rating on Micron Technology, which currently sits at a price target of $70.
- Mizuho has decided to maintain their Neutral rating on Micron Technology, which currently sits at a price target of $50.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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