What the Options Market Tells Us About Micron Technology

Deep-pocketed investors have adopted a bullish 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 46 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 52% leaning bullish and 30% bearish. Among these notable options, 5 are puts, totaling $238,743, and 41 are calls, amounting to $2,809,670.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $85.0 to $170.0 for Micron Technology during the past quarter.

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 $85.0 to $170.0 in the last 30 days.

Micron Technology Option Volume And Open Interest Over Last 30 Days

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 SWEEP BEARISH 05/17/24 $3.85 $3.85 $3.85 $120.00 $328.8K 13.6K 3.7K
MU CALL SWEEP NEUTRAL 12/20/24 $40.65 $39.85 $40.53 $85.00 $202.8K 1.1K 50
MU CALL SWEEP BULLISH 12/20/24 $40.5 $39.9 $40.48 $85.00 $194.3K 1.1K 50
MU CALL SWEEP NEUTRAL 06/20/25 $35.1 $34.6 $34.82 $100.00 $173.7K 1.1K 78
MU CALL SWEEP BULLISH 05/10/24 $2.85 $2.77 $2.85 $118.00 $142.5K 1.6K 959

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.

Micron Technology's Current Market Status

  • Currently trading with a volume of 13,492,844, the MU's price is up by 4.99%, now at $120.42.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 51 days.

What Analysts Are Saying About Micron Technology

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $147.5.

  • Showing optimism, an analyst from Baird upgrades its rating to Outperform with a revised price target of $150.
  • An analyst from Keybanc has decided to maintain their Overweight rating on Micron Technology, which currently sits at a price target of $150.
  • Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Micron Technology with a target price of $150.
  • Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Micron Technology with a target price of $140.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Micron Technology options trades with real-time alerts from Benzinga Pro.

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Posted In: OptionsMarketsBZI-UOA
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