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.
Deep-pocketed investors have adopted a bullish approach towards Micron Technology (NASDAQ:MU), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 28 extraordinary options activities for Micron Technology. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 57% leaning bullish and 42% bearish. Among these notable options, 3 are puts, totaling $126,675, and 25 are calls, amounting to $1,700,754.
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 $70.0 to $90.0 for Micron Technology during the past quarter.
Volume & Open Interest Trends
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 $70.0 to $90.0 in the last 30 days.
Micron Technology Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BULLISH | 05/17/24 | $82.50 | $488.7K | 366 | 0 |
| MU | CALL | SWEEP | BULLISH | 08/16/24 | $82.50 | $96.1K | 1 | 118 |
| MU | CALL | TRADE | BULLISH | 05/17/24 | $82.50 | $84.7K | 366 | 3.9K |
| MU | CALL | SWEEP | BEARISH | 04/19/24 | $87.50 | $67.3K | 9.8K | 4 |
| MU | PUT | SWEEP | BEARISH | 03/15/24 | $80.00 | $67.2K | 7.3K | 271 |
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.
Present Market Standing of Micron Technology
- With a volume of 1,380,060, the price of MU is up 0.11% at $80.8.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 28 days.
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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