Investors with a lot of money to spend have taken a bearish 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 14 uncommon options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 28% bullish and 71%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $210,512, and 10 are calls, for a total amount of $504,816.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $77.5 to $100.0 for Micron Technology over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 3023.58 with a total volume of 3,835.00.
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 $77.5 to $100.0 over the last 30 days.
Micron Technology Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | NEUTRAL | 01/17/25 | $77.50 | $94.9K | 1.6K | 0 |
| MU | PUT | SWEEP | BEARISH | 04/19/24 | $82.50 | $89.1K | 1.1K | 299 |
| MU | CALL | TRADE | BEARISH | 06/21/24 | $77.50 | $80.5K | 2.3K | 50 |
| MU | CALL | SWEEP | BEARISH | 03/15/24 | $100.00 | $60.1K | 2.5K | 766 |
| MU | CALL | TRADE | BEARISH | 06/20/25 | $90.00 | $53.4K | 1.3K | 33 |
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.
In light of the recent options history for Micron Technology, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Micron Technology
- Currently trading with a volume of 3,766,361, the MU's price is up by 1.43%, now at $88.76.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 64 days.
Professional Analyst Ratings for Micron Technology
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $103.33333333333333.
- Showing optimism, an analyst from Piper Sandler upgrades its rating to Overweight with a revised price target of $95.
- An analyst from Raymond James persists with their Outperform rating on Micron Technology, maintaining a target price of $100.
- An analyst from Keybanc persists with their Overweight rating on Micron Technology, maintaining a target price of $115.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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