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.
Financial giants have made a conspicuous bullish move on Micron Technology. Our analysis of options history for Micron Technology (NASDAQ:MU) revealed 8 unusual trades.
Delving into the details, we found 75% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $54,710, and 6 were calls, valued at $242,718.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $77.5 for Micron Technology over the last 3 months.
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 $60.0 to $77.5 in the last 30 days.
Micron Technology Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BEARISH | 01/16/26 | $75.00 | $54.6K | 83 | 0 |
| MU | CALL | SWEEP | BEARISH | 01/19/24 | $70.00 | $46.5K | 16.6K | 70 |
| MU | CALL | TRADE | BULLISH | 03/15/24 | $60.00 | $36.3K | 165 | 0 |
| MU | CALL | TRADE | BULLISH | 06/21/24 | $67.50 | $35.9K | 2.2K | 56 |
| MU | CALL | TRADE | BULLISH | 06/21/24 | $67.50 | $35.9K | 2.2K | 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.
Following our analysis of the options activities associated with Micron Technology, we pivot to a closer look at the company's own performance.
Micron Technology's Current Market Status
- Trading volume stands at 1,218,666, with MU's price down by -2.02%, positioned at $74.4.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 16 days.
What Analysts Are Saying About Micron Technology
In the last month, 5 experts released ratings on this stock with an average target price of $82.3.
- An analyst from Raymond James has decided to maintain their Outperform rating on Micron Technology, which currently sits at a price target of $82.
- An analyst from Citigroup persists with their Buy rating on Micron Technology, maintaining a target price of $88.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Underweight rating for Micron Technology, targeting a price of $71.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Micron Technology with a target price of $85.
- An analyst from Needham persists with their Buy rating on Micron Technology, maintaining a target price of $85.
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% 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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