A Closer Look at Micron Technology's Options Market Dynamics

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 trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 23 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 43% bullish and 39%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $1,508,116, and 13 are calls, for a total amount of $2,325,001.

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Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $100.0 for Micron Technology over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Micron Technology stands at 5507.71, with a total volume reaching 10,991.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Micron Technology, situated within the strike price corridor from $50.0 to $100.0, throughout the last 30 days.

Micron Technology Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

After a thorough review of the options trading surrounding Micron Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Micron Technology's Current Market Status

• With a trading volume of 4,670,845, the price of MU is down by -0.82%, reaching $79.76.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 50 days from now.

What Analysts Are Saying About Micron Technology

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $99.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Micron Technology, targeting a price of $92. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Micron Technology, targeting a price of $110. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Micron Technology with a target price of $95.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Micron Technology with Benzinga Pro for real-time alerts.