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 positions 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.
Today, Benzinga's options scanner spotted 13 options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $28,560, and 12, calls, for a total amount of $624,170.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $114.0 to $160.0 for Micron Technology during the past quarter.
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 $114.0 to $160.0 in the last 30 days.
Micron Technology 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BULLISH | 05/10/24 | $1.72 | $1.72 | $1.72 | $120.00 | $142.5K | 634 | 1.9K |
| MU | CALL | TRADE | BEARISH | 12/20/24 | $15.45 | $15.35 | $15.35 | $120.00 | $61.4K | 1.7K | 40 |
| MU | CALL | SWEEP | BULLISH | 05/03/24 | $2.76 | $2.75 | $2.76 | $115.00 | $55.2K | 4.7K | 3.0K |
| MU | CALL | TRADE | BEARISH | 05/10/24 | $4.15 | $4.1 | $4.1 | $115.00 | $54.1K | 621 | 1.7K |
| MU | CALL | TRADE | BEARISH | 05/03/24 | $2.64 | $2.6 | $2.6 | $115.00 | $52.0K | 4.7K | 471 |
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
Present Market Standing of Micron Technology
- Currently trading with a volume of 2,403,090, the MU's price is up by 1.09%, now at $115.61.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 57 days.
Professional Analyst Ratings for Micron Technology
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $146.8.
- An analyst from B of A Securities persists with their Buy rating on Micron Technology, maintaining a target price of $144.
- An analyst from Citigroup has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $150.
- An analyst from Stifel has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $140.
- An analyst from Keybanc persists with their Overweight rating on Micron Technology, maintaining a target price of $150.
- An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Micron Technology, which currently sits at a price target of $150.
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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