Check Out What Whales Are Doing With Micron Technology

Author: Benzinga Insights | June 04, 2024 10:31am

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

Looking at options history for Micron Technology (NASDAQ:MU) we detected 22 trades.

If we consider the specifics of each trade, it is accurate to state that 13% of the investors opened trades with bullish expectations and 59% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $68,440 and 20, calls, for a total amount of $967,019.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $175.0 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 2737.0 with a total volume of 5,139.00.

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 $95.0 to $175.0 over the last 30 days.

Micron Technology Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
MU	CALL	SWEEP	BEARISH	12/18/26	$56.1	$53.6	$53.6	$95.00	$107.2K	628	10
MU	CALL	SWEEP	BEARISH	07/12/24	$5.4	$5.3	$5.3	$135.00	$106.0K	313	300
MU	CALL	SWEEP	BEARISH	06/07/24	$7.85	$7.65	$7.67	$120.00	$81.3K	408	0
MU	CALL	TRADE	BULLISH	06/07/24	$6.9	$6.2	$6.72	$120.00	$67.2K	408	250
MU	CALL	TRADE	BEARISH	07/12/24	$5.55	$5.4	$5.43	$135.00	$54.3K	313	100

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

Where Is Micron Technology Standing Right Now?

• Trading volume stands at 2,525,595, with MU's price down by -1.86%, positioned at $125.78.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 22 days.

What The Experts Say On Micron Technology

5 market experts have recently issued ratings for this stock, with a consensus target price of $146.0.

• Showing optimism, an analyst from Morgan Stanley upgrades its rating to Equal-Weight with a revised price target of $130.
• An analyst from Baird has elevated its stance to Outperform, setting a new price target at $150.
• Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Micron Technology, targeting a price of $145.
• Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Micron Technology, targeting a price of $150.
• An analyst from Mizuho has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $155.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Micron Technology, Benzinga Pro gives you real-time options trades alerts.

Posted In: MU