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 23 uncommon options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 60%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $177,735, and 20 are calls, for a total amount of $1,361,812.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $95.0 to $150.0 for Micron Technology over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $95.0 to $150.0 in the last 30 days.
Micron Technology 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BEARISH | 02/21/25 | $16.45 | $16.35 | $16.35 | $95.00 | $215.8K | 1.1K | 3 |
| MU | CALL | SWEEP | BEARISH | 02/21/25 | $16.45 | $16.3 | $16.35 | $95.00 | $145.5K | 1.1K | 290 |
| MU | CALL | TRADE | BEARISH | 12/20/24 | $12.3 | $12.2 | $12.2 | $97.50 | $122.0K | 1.2K | 2 |
| MU | CALL | TRADE | BEARISH | 03/21/25 | $2.3 | $2.22 | $2.23 | $150.00 | $111.0K | 3.8K | 500 |
| MU | CALL | SWEEP | BULLISH | 01/17/25 | $10.1 | $9.95 | $10.0 | $105.00 | $90.0K | 5.0K | 96 |
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.
Where Is Micron Technology Standing Right Now?
- Currently trading with a volume of 3,082,021, the MU's price is down by -0.72%, now at $102.17.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 71 days.
What The Experts Say On Micron Technology
5 market experts have recently issued ratings for this stock, with a consensus target price of $122.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from TD Cowen persists with their Buy rating on Micron Technology, maintaining a target price of $135. * Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Micron Technology, targeting a price of $115. * An analyst from B of A Securities has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $125. * An analyst from UBS persists with their Buy rating on Micron Technology, maintaining a target price of $135. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Micron Technology, targeting a price of $100.
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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