Investors with a lot of money to spend have taken a bearish stance on Micron Technology MU.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MU, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $41,385, and 8, calls, for a total amount of $438,603.
What's The Price Target?
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 $92.5 for Micron Technology during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 1708.71 with a total volume of 7,473.00.
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 $70.0 to $92.5 over the last 30 days.
Micron Technology Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BULLISH | 04/19/24 | $87.50 | $92.8K | 3.2K | 2.9K |
| MU | CALL | TRADE | BULLISH | 04/19/24 | $70.00 | $83.5K | 1.2K | 50 |
| MU | CALL | SWEEP | NEUTRAL | 03/01/24 | $88.00 | $79.8K | 184 | 189 |
| MU | CALL | SWEEP | BEARISH | 06/21/24 | $80.00 | $51.7K | 5.0K | 47 |
| MU | PUT | TRADE | BEARISH | 06/21/24 | $80.00 | $41.3K | 1.9K | 104 |
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.
Having examined the options trading patterns of Micron Technology, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Micron Technology Standing Right Now?
- Trading volume stands at 3,252,960, with MU's price up by 0.36%, positioned at $86.06.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 54 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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