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 bearish 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 93 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 29% leaning bullish and 70% bearish. Among these notable options, 12 are puts, totaling $417,468, and 81 are calls, amounting to $3,398,565.
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 $70.0 to $150.0 for Micron Technology over the last 3 months.
Volume & Open Interest Trends
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 $70.0 to $150.0 in 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 | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | NEUTRAL | 06/21/24 | $4.0 | $3.9 | $3.95 | $140.00 | $219.6K | 8.0K | 703 |
| MU | CALL | SWEEP | BULLISH | 05/17/24 | $8.2 | $8.15 | $8.2 | $120.00 | $164.8K | 3.5K | 1.1K |
| MU | CALL | TRADE | NEUTRAL | 05/24/24 | $8.95 | $8.75 | $8.85 | $120.00 | $88.5K | 47 | 200 |
| MU | CALL | SWEEP | BULLISH | 05/24/24 | $8.9 | $8.7 | $8.85 | $120.00 | $88.3K | 47 | 0 |
| MU | CALL | TRADE | BEARISH | 08/16/24 | $14.8 | $14.65 | $14.65 | $120.00 | $58.6K | 928 | 40 |
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.
In light of the recent options history for Micron Technology, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Micron Technology
- With a trading volume of 10,184,027, the price of MU is down by -0.22%, reaching $122.68.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 78 days from now.
Expert Opinions on Micron Technology
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $119.6.
- An analyst from Morgan Stanley persists with their Underweight rating on Micron Technology, maintaining a target price of $98.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Micron Technology, targeting a price of $130.
- Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Micron Technology with a target price of $120.
- An analyst from Mizuho downgraded its action to Buy with a price target of $130.
- Maintaining their stance, an analyst from TD Cowen continues to hold a Outperform rating for Micron Technology, targeting a price of $120.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Micron Technology with Benzinga Pro for real-time 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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