Deep-pocketed investors have adopted a bullish approach towards Micron Technology MU, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Micron Technology. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 30% bearish. Among these notable options, 2 are puts, totaling $77,900, and 11 are calls, amounting to $847,155.
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 $85.0 to $200.0 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 $85.0 to $200.0 over the preceding 30 days.
Micron Technology Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BULLISH | 12/18/26 | $24.9 | $24.15 | $24.9 | $95.00 | $323.7K | 987 | 0 |
| MU | CALL | TRADE | NEUTRAL | 12/20/24 | $7.75 | $7.55 | $7.65 | $97.50 | $76.5K | 521 | 100 |
| MU | CALL | TRADE | BEARISH | 09/20/24 | $5.2 | $5.0 | $5.0 | $87.50 | $75.0K | 632 | 5 |
| MU | CALL | TRADE | BULLISH | 06/20/25 | $7.4 | $5.9 | $6.8 | $120.00 | $68.0K | 2.6K | 100 |
| MU | CALL | TRADE | BULLISH | 10/11/24 | $5.9 | $5.75 | $5.9 | $91.00 | $59.0K | 100 | 0 |
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.
Present Market Standing of Micron Technology
- With a volume of 1,143,780, the price of MU is down -0.75% at $87.92.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 21 days.
What Analysts Are Saying About 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 $153.33333333333334.
- An analyst from Susquehanna has decided to maintain their Positive rating on Micron Technology, which currently sits at a price target of $175.
- An analyst from Keybanc persists with their Overweight rating on Micron Technology, maintaining a target price of $145.
- An analyst from Needham persists with their Buy rating on Micron Technology, maintaining a target price of $140.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Micron Technology, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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