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Smart Money Is Betting Big In Micron Technology Options

Author: Benzinga Insights | August 09, 2024 03:01pm

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 65 trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 43% with bearish.

From the overall spotted trades, 31 are puts, for a total amount of $2,131,828 and 34, calls, for a total amount of $2,306,452.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $150.0 for Micron Technology during the past quarter.

Insights into Volume & Open Interest

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 $40.0 to $150.0 in the last 30 days.

Micron Technology Option Activity Analysis: Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
MU CALL SWEEP BEARISH 09/20/24 $9.05 $8.95 $8.99 $90.00 $448.7K 5.0K 630
MU PUT TRADE BEARISH 01/17/25 $2.13 $2.08 $2.13 $62.50 $362.1K 3.3K 1.7K
MU PUT SWEEP BEARISH 01/16/26 $25.15 $24.8 $25.15 $105.00 $196.1K 1.2K 91
MU PUT SWEEP NEUTRAL 10/18/24 $6.9 $6.85 $6.85 $90.00 $137.0K 2.3K 213
MU CALL SWEEP BEARISH 08/30/24 $5.5 $5.35 $5.45 $93.00 $130.8K 23 378

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

  • Trading volume stands at 15,218,341, with MU's price up by 1.4%, positioned at $93.36.
  • RSI indicators show the stock to be may be oversold.
  • Earnings announcement expected in 47 days.

Professional Analyst Ratings for Micron Technology

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $145.0.

  • Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Micron Technology with a target price of $145.

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

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