Check Out What Whales Are Doing With Micron Technology

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 17 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 47% bullish and 41%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $259,433, and 12 are calls, for a total amount of $686,686.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $130.0 for Micron Technology during the past quarter.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Micron Technology's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Micron Technology's substantial trades, within a strike price spectrum from $60.0 to $130.0 over the preceding 30 days.

Micron Technology Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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 2,493,051, the price of MU is down by -0.92%, reaching $122.12.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 85 days from now.

What Analysts Are Saying About Micron Technology

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $157.0.

Turn $1000 into $1270 in just 20 days?

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. * An analyst from Susquehanna persists with their Positive rating on Micron Technology, maintaining a target price of $160. * An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Micron Technology, which currently sits at a price target of $135. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Micron Technology with a target price of $150. * An analyst from Barclays persists with their Overweight rating on Micron Technology, maintaining a target price of $140. * Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Micron Technology with a target price of $200.

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.