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Investors with a lot of money to spend have taken a bullish stance on Micron Technology (NASDAQ: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 16 uncommon options trades for Micron Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 56% bullish and 37%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $185,673, and 11 are calls, for a total amount of $3,111,931.
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $87.5 and $180.0 for Micron Technology, spanning the last three months.
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $87.5 to $180.0 in the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BEARISH | 10/18/24 | $11.2 | $11.05 | $11.06 | $140.00 | $2.3M | 3.5K | 25 |
| MU | CALL | TRADE | BEARISH | 01/16/26 | $34.5 | $31.95 | $31.95 | $135.00 | $159.7K | 275 | 0 |
| MU | CALL | TRADE | BULLISH | 01/16/26 | $41.1 | $41.05 | $41.1 | $115.00 | $119.1K | 251 | 0 |
| MU | CALL | SWEEP | BEARISH | 07/05/24 | $1.88 | $1.84 | $1.86 | $132.00 | $101.4K | 6.5K | 0 |
| MU | CALL | TRADE | BULLISH | 08/16/24 | $25.0 | $24.15 | $25.0 | $110.00 | $100.0K | 812 | 0 |
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.
5 market experts have recently issued ratings for this stock, with a consensus target price of $185.4.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Micron Technology options trades with real-time alerts from Benzinga Pro.
Posted In: MU
