Trader Is Betting On Micron Technology Declining On Earnings

Micron Technology, Inc. MU is scheduled to report earnings on Wednesday.

On CNBC’s “Options Action,” Mike Khouw of Optimize Advisors said Micron Technology was the third-busiest semiconductor name among single stocks on Tuesday. Bearish bets outpaced bullish ones, he added.

Check out other stocks making moves in the premarket

There was a buyer of 2,008 of the January 50 puts at an average price of $1.85 per contract, Khouw mentioned. The trader expects further downside to the stock through January expiration, he added.

MU Price Action: Shares of Micron Technology had declined by 1.13% to close at $55.12 on Tuesday.

Now Read: Micron Starts Monetizing Cutting-Edge Chip Production In Japan 

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: NewsShort IdeasOptionsMarketsMediaTrading IdeasCNBCMike KhouwOptimize Advisors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!