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.
Whales with a lot of money to spend have taken a noticeably bullish stance on Micron Technology.
Looking at options history for Micron Technology (NASDAQ:MU) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $373,527 and 4, calls, for a total amount of $203,624.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $57.5 to $83.0 for Micron Technology during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Micron Technology stands at 3207.75, with a total volume reaching 2,166.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Micron Technology, situated within the strike price corridor from $57.5 to $83.0, throughout the last 30 days.
Micron Technology Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | PUT | TRADE | BULLISH | 12/29/23 | $77.00 | $141.0K | 239 | 651 |
| MU | PUT | TRADE | BULLISH | 02/16/24 | $82.50 | $66.8K | 215 | 101 |
| MU | CALL | TRADE | BEARISH | 01/19/24 | $80.00 | $63.2K | 17.0K | 7 |
| MU | CALL | SWEEP | BEARISH | 12/22/23 | $83.00 | $59.4K | 576 | 34 |
| MU | PUT | TRADE | BULLISH | 12/22/23 | $78.00 | $57.5K | 234 | 3 |
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.
Micron Technology's Current Market Status
- Trading volume stands at 1,353,380, with MU's price up by 0.2%, positioned at $77.94.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 8 days.
What Analysts Are Saying About Micron Technology
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $83.1.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Micron Technology with a target price of $88.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Underweight rating on Micron Technology with a target price of $71.
- Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Micron Technology with a target price of $86.
- An analyst from Needham has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $85.
- An analyst from Barclays has decided to maintain their Overweight rating on Micron Technology, which currently sits at a price target 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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