What the Options Market Tells Us About Micron Technology

Investors with a lot of money to spend have taken a bullish stance on Micron Technology MU.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MU, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $73,075, and 6 are calls, for a total amount of $332,028.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $87.5 for Micron Technology during the past quarter.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Micron Technology's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Micron Technology's substantial trades, within a strike price spectrum from $50.0 to $87.5 over the preceding 30 days.

Micron Technology Call and Put Volume: 30-Day Overview

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.

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.

Present Market Standing of Micron Technology

• Currently trading with a volume of 3,770,110, the MU's price is up by 0.51%, now at $82.8.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 75 days.

What The Experts Say 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 $94.0.

• An analyst from Needham persists with their Buy rating on Micron Technology, maintaining a target price of $100.
• An analyst from UBS persists with their Buy rating on Micron Technology, maintaining a target price of $95.
• An analyst from Rosenblatt downgraded its action to Buy with a price target of $100.
• An analyst from Stifel persists with their Hold rating on Micron Technology, maintaining a target price of $80.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Micron Technology, targeting a price of $95.

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.