Whales with a lot of money to spend have taken a noticeably bearish stance on Micron Technology.
Looking at options history for Micron Technology MU we detected 24 trades.
If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $1,774,565 and 14, calls, for a total amount of $670,087.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $125.0 for Micron Technology over the recent three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Micron Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Micron Technology's significant trades, within a strike price range of $75.0 to $125.0, over the past month.
Micron Technology Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | PUT | TRADE | NEUTRAL | 04/19/24 | $87.50 | $1.1M | 108 | 1 |
| MU | PUT | SWEEP | BEARISH | 06/20/25 | $120.00 | $154.8K | 0 | 15 |
| MU | PUT | TRADE | BEARISH | 01/12/24 | $89.00 | $114.0K | 0 | 0 |
| MU | CALL | TRADE | BULLISH | 06/21/24 | $85.00 | $99.6K | 6.0K | 113 |
| MU | CALL | TRADE | BEARISH | 02/16/24 | $80.00 | $84.0K | 4.0K | 100 |
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
Current Position of Micron Technology
- With a volume of 7,340,400, the price of MU is up 0.75% at $86.12.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 95 days.
Expert Opinions on Micron Technology
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $94.5.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Micron Technology, targeting a price of $140.
- An analyst from Morgan Stanley has decided to maintain their Underweight rating on Micron Technology, which currently sits at a price target of $71.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Micron Technology, targeting a price of $97.
- Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for Micron Technology, targeting a price of $76.
- An analyst from Citigroup has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $88.
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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