Whales with a lot of money to spend have taken a noticeably bearish stance on Micron Technology.
Looking at options history for Micron Technology MU we detected 82 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 59% with bearish.
From the overall spotted trades, 35 are puts, for a total amount of $3,453,340 and 47, calls, for a total amount of $3,495,861.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $140.0 for Micron Technology, spanning the last three months.
Insights into Volume & Open Interest
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 $50.0 to $140.0 in the last 30 days.
Micron Technology 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BEARISH | 06/18/26 | $90.00 | $281.0K | 10 | 110 |
| MU | CALL | SWEEP | BULLISH | 12/19/25 | $87.50 | $268.0K | 121 | 100 |
| MU | PUT | TRADE | NEUTRAL | 01/17/25 | $85.00 | $166.0K | 3.1K | 200 |
| MU | CALL | SWEEP | BULLISH | 03/22/24 | $94.00 | $135.0K | 488 | 831 |
| MU | CALL | SWEEP | BEARISH | 01/17/25 | $95.00 | $133.4K | 4.8K | 253 |
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
- Currently trading with a volume of 10,040,892, the MU's price is down by -1.76%, now at $95.9.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 9 days.
Expert Opinions on Micron Technology
In the last month, 4 experts released ratings on this stock with an average target price of $112.5.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $100.
- An analyst from Mizuho persists with their Buy rating on Micron Technology, maintaining a target price of $105.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Micron Technology with a target price of $125.
- In a positive move, an analyst from Stifel has upgraded their rating to Buy and adjusted the price target to $120.
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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