A Closer Look at Micron Technology's Options Market Dynamics

Investors with a lot of money to spend have taken a bearish 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 66 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 39% bullish and 48%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $2,598,245, and 55 are calls, for a total amount of $5,399,204.

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Expected Price Movements

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.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 4845.77 with a total volume of 46,791.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Micron Technology's big money trades within a strike price range of $50.0 to $140.0 over the last 30 days.

Micron Technology Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

Having examined the options trading patterns of Micron Technology, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Micron Technology's Current Market Status

• Currently trading with a volume of 11,717,578, the MU's price is up by 4.78%, now at $96.7.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 43 days.

Professional Analyst Ratings for Micron Technology

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $95.0.

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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. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Micron Technology with a target price of $95. * An analyst from UBS persists with their Buy rating on Micron Technology, maintaining a target price of $92. * An analyst from Morgan Stanley persists with their Equal-Weight rating on Micron Technology, maintaining a target price of $98.

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.