27% profit every 20 days?
This is what Nic Chahine averages with his option 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 has taken a noticeably bearish stance on Micron Technology.
Looking at options history for Micron Technology (NASDAQ:MU) we detected 79 strange trades.
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If we consider the specifics of each trade, it is accurate to state that 49% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 38 are puts, for a total amount of $2,672,086 and 41, calls, for a total amount of $2,583,175.
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 $37.5 to $100.0 for Micron Technology over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 4027.78 with a total volume of 50,909.00.
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 $37.5 to $100.0 over the last 30 days.
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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 | CALL | SWEEP | BEARISH | 10/20/23 | $75.00 | $215.2K | 1.7K | 505 |
| MU | CALL | SWEEP | BULLISH | 06/02/23 | $73.00 | $98.7K | 2.1K | 3.8K |
| MU | PUT | SWEEP | BEARISH | 07/07/23 | $73.00 | $85.0K | 3.9K | 905 |
| MU | PUT | SWEEP | NEUTRAL | 06/16/23 | $70.00 | $82.0K | 26.5K | 2.9K |
| MU | PUT | SWEEP | BULLISH | 07/21/23 | $72.50 | $76.0K | 818 | 646 |
Where Is Micron Technology Standing Right Now?
- With a volume of 22,481,148, the price of MU is down -3.03% at $71.69.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 30 days.
What The Experts Say On Micron Technology:
- BMO Capital has decided to maintain their Outperform rating on Micron Technology, which currently sits at a price target of $80.
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.
27% profit every 20 days?
This is what Nic Chahine averages with his option 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.