Whales with a lot of money to spend have taken a noticeably bullish stance on Micron Technology.
Looking at options history for Micron Technology MU we detected 25 trades.
If we consider the specifics of each trade, it is accurate to state that 68% of the investors opened trades with bullish expectations and 32% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $686,584 and 16, calls, for a total amount of $917,137.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $100.0 for Micron Technology, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $60.0 to $100.0 in the last 30 days.
Micron Technology Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | PUT | SWEEP | BULLISH | 01/19/24 | $77.50 | $304.1K | 1.4K | 821 |
| MU | CALL | TRADE | BULLISH | 06/21/24 | $70.00 | $260.3K | 4.5K | 191 |
| MU | CALL | SWEEP | BULLISH | 01/19/24 | $67.50 | $103.0K | 5.5K | 90 |
| MU | CALL | SWEEP | BEARISH | 01/19/24 | $80.00 | $89.6K | 14.0K | 393 |
| MU | PUT | SWEEP | BEARISH | 03/15/24 | $77.50 | $72.7K | 498 | 190 |
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.
After a thorough review of the options trading surrounding Micron Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Micron Technology
- Currently trading with a volume of 6,714,488, the MU's price is up by 0.01%, now at $76.88.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 23 days.
Expert Opinions on Micron Technology
In the last month, 1 experts released ratings on this stock with an average target price of $71.5.
- An analyst from Morgan Stanley persists with their Underweight rating on Micron Technology, maintaining a target price of $71.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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