27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
A whale with a lot of money to spend (and possibly insider knowledge) has taken a noticeably bullish stance on Micron Technology.
Looking at options history for Micron Technology(NASDAQ:MU) we detected 13 strange trades.
If we consider the specifics of each trade, it is accurate to state that 53.85% of the investors opened trades with bullish expectations and 46.15% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $2,324,092 and 4, calls, for a total amount of $211,009.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $68.0 for Micron Technology over the last 3 months.
Volume & Open Interest Development
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 $50.0 to $68.0 in the last 30 days.
Micron Technology Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | PUT | TRADE | BEARISH | 09/16/22 | $65.00 | $1.7M | 13.4K | 2.5K |
| MU | PUT | TRADE | NEUTRAL | 11/19/21 | $65.00 | $184.5K | 15.9K | 1.8K |
| MU | CALL | SWEEP | BULLISH | 10/22/21 | $67.50 | $110.1K | 594 | 5.2K |
| MU | PUT | SWEEP | BEARISH | 10/22/21 | $68.00 | $86.9K | 2.3K | 1.8K |
| MU | PUT | SWEEP | BULLISH | 01/20/23 | $50.00 | $81.3K | 6.7K | 264 |
Where Is Micron Technology Standing Right Now?
- With a volume of 5,111,011, the price of MU is down -0.31% at $67.47.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 80 days.
What The Experts Say On Micron Technology:
- Mizuho has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $90.0.
- Citigroup has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $120.0.
- Susquehanna has decided to maintain their Positive rating on Micron Technology, which currently sits at a price target of $125.0.
- Barclays has decided to maintain their Overweight rating on Micron Technology, which currently sits at a price target of $87.0.
- UBS has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $90.0.
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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