Micron Technology Unusual Options Activity For August 30

Author: Benzinga Insights | August 30, 2024 10:02am

High-rolling investors have positioned themselves bearish on Micron Technology (NASDAQ:MU), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in MU often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 11 options trades for Micron Technology. This is not a typical pattern.

The sentiment among these major traders is split, with 9% bullish and 72% bearish. Among all the options we identified, there was one put, amounting to $25,250, and 10 calls, totaling $459,465.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $95.0 to $200.0 for Micron Technology during the past quarter.

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 $95.0 to $200.0 in the last 30 days.

Micron Technology 30-Day Option Volume & Interest Snapshot

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	TRADE	BEARISH	01/17/25	$5.25	$5.1	$5.15	$120.00	$77.2K	4.7K	152
MU	CALL	TRADE	BEARISH	06/20/25	$1.83	$1.4	$1.4	$200.00	$70.0K	2.9K	0
MU	CALL	SWEEP	NEUTRAL	09/06/24	$2.6	$2.52	$2.52	$98.00	$51.6K	792	354
MU	CALL	TRADE	NEUTRAL	03/21/25	$2.75	$2.25	$2.5	$150.00	$47.5K	1.5K	200
MU	CALL	SWEEP	BEARISH	03/21/25	$7.05	$7.0	$7.05	$120.00	$45.8K	1.1K	47

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.

Present Market Standing of Micron Technology

• Currently trading with a volume of 2,183,564, the MU's price is up by 1.94%, now at $97.42.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 26 days.

Expert Opinions on Micron Technology

In the last month, 3 experts released ratings on this stock with an average target price of $153.33333333333334.

• Maintaining their stance, an analyst from Needham 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 $145.
• Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Micron Technology with a target price of $175.

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