Deep-pocketed investors have adopted a bearish approach towards Micron Technology 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 15 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 46% leaning bullish and 53% bearish. Among these notable options, 10 are puts, totaling $507,013, and 5 are calls, amounting to $917,251.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $100.0 for Micron Technology over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Micron Technology's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Micron Technology's substantial trades, within a strike price spectrum from $55.0 to $100.0 over the preceding 30 days.
Micron Technology 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BEARISH | 01/17/25 | $100.00 | $776.0K | 6.9K | 1.0K |
| MU | PUT | TRADE | BEARISH | 02/16/24 | $92.00 | $150.0K | 166 | 200 |
| MU | PUT | SWEEP | BULLISH | 02/23/24 | $90.00 | $63.5K | 257 | 100 |
| MU | PUT | SWEEP | BULLISH | 02/16/24 | $90.00 | $57.5K | 1.3K | 100 |
| MU | PUT | TRADE | BEARISH | 01/16/26 | $60.00 | $52.0K | 804 | 178 |
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.
Current Position of Micron Technology
- With a trading volume of 3,291,764, the price of MU is up by 0.2%, reaching $85.05.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 46 days from now.
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.
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