Investors with a lot of money to spend have taken a bullish 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 12 options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $40,280, and 11, calls, for a total amount of $722,579.
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 $120.0 and $170.0 for Micron Technology, spanning the last three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Micron Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Micron Technology's significant trades, within a strike price range of $120.0 to $170.0, over the past month.
Micron Technology Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BULLISH | 04/05/24 | $10.0 | $9.7 | $9.88 | $120.00 | $198.5K | 7.6K | 36 |
| MU | CALL | SWEEP | BULLISH | 04/05/24 | $2.1 | $2.06 | $2.1 | $127.00 | $146.9K | 2.2K | 2.8K |
| MU | CALL | TRADE | BULLISH | 04/19/24 | $4.5 | $4.35 | $4.45 | $130.00 | $89.0K | 28.0K | 3.3K |
| MU | CALL | TRADE | BEARISH | 04/05/24 | $2.44 | $2.35 | $2.35 | $129.00 | $47.0K | 3.6K | 24 |
| MU | CALL | SWEEP | BULLISH | 08/16/24 | $4.35 | $4.2 | $4.3 | $170.00 | $43.0K | 175 | 201 |
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.
Micron Technology's Current Market Status
- With a trading volume of 5,056,411, the price of MU is up by 0.43%, reaching $128.56.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 83 days from now.
Professional Analyst Ratings for Micron Technology
In the last month, 5 experts released ratings on this stock with an average target price of $118.0.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Micron Technology with a target price of $135.
- An analyst from Mizuho persists with their Buy rating on Micron Technology, maintaining a target price of $124.
- An analyst from Wedbush has decided to maintain their Outperform rating on Micron Technology, which currently sits at a price target of $103.
- In a cautious move, an analyst from Mizuho downgraded its rating to Buy, setting a price target of $130.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Underweight rating for Micron Technology, targeting a price of $98.
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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