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Bonawyn Eison Sees Unusual Options Activity In Micron

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Bonawyn Eison Sees Unusual Options Activity In Micron

Bonawyn Eison spoke on CNBC's "Options Action" about unusually high options activity in Micron Technology, Inc. (NASDAQ: MU). He said calls outpaced puts by about 3 to 1 on Monday after being as high as 4 to 1 earlier in the session.

The company is scheduled to report earnings on Jan. 7 and the options market is implying a move of 9% in either direction between now and the end of the month, compared to an average move of 5% over the last eight quarters.

During the session, Eison noticed a purchase of 10,000 contracts of the January $85 calls for 85 cents. The trade breaks even at $85.85 or around 16% above the closing price on Monday.

 

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