Looking At Micron Technology's Recent Unusual Options Activity

Author: Benzinga Insights | May 07, 2024 09:47am

Whales with a lot of money to spend have taken a noticeably bullish stance on Micron Technology.

Looking at options history for Micron Technology (NASDAQ:MU) we detected 10 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $86,266 and 7, calls, for a total amount of $343,725.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $107.0 to $150.0 for Micron Technology over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Micron Technology's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Micron Technology's whale trades within a strike price range from $107.0 to $150.0 in the last 30 days.

Micron Technology Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
MU	CALL	SWEEP	BULLISH	07/19/24	$2.23	$2.16	$2.21	$150.00	$111.0K	7.7K	509
MU	CALL	TRADE	BEARISH	08/16/24	$7.95	$7.9	$7.9	$130.00	$47.4K	1.5K	2
MU	CALL	TRADE	BULLISH	06/21/24	$4.05	$3.95	$4.01	$130.00	$40.1K	8.9K	152
MU	CALL	TRADE	BEARISH	05/17/24	$3.9	$3.8	$3.83	$120.00	$38.3K	12.3K	129
MU	CALL	SWEEP	BULLISH	06/20/25	$24.6	$24.6	$24.6	$120.00	$36.9K	990	12

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

• With a trading volume of 535,844, the price of MU is down by -0.36%, reaching $119.7.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 50 days from now.

What The Experts Say On Micron Technology

In the last month, 4 experts released ratings on this stock with an average target price of $147.5.

• Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Micron Technology, targeting a price of $150.
• An analyst from Baird upgraded its action to Outperform with a price target of $150.
• Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Micron Technology, targeting a price of $140.
• Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Micron Technology, targeting a price of $150.

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.

Posted In: MU