Investors with big money are bearish on Micron Technology MU.
Retailers should know.
We noticed this today when a position appeared in the public options history we track at Benzinga.
We don't know if these are institutional investors or simply wealthy individuals, but having something this big happen at MU means someone knows something is about to happen.
Benzinga's options scanner detected 16 options trades for Micron Technology today.
This is not normal.
The overall sentiment of these large traders is split with 37% bulls and 62% bears.
Of all the options we found, there was one put option totaling $28,375 and 15 call options totaling $1,225,952.
Estimated Price Target
Considering the trading volume and open interest of these contracts, it appears that whales have been targeting Micron Technology in the price range of $70.0 to $130.0 over the past three months.
Trading volume and open interest trends
As of today's trading, the average open balance for Micron Technology options is 6028.09, with total trading volume reaching 6,009.00. The attached chart shows the past 30-day trend in trading volume and open balance for both call and put options for Micron Technology's high-value trades within the strike price range of $70.0 to $130.0.
Micron Technology options trading volume and open balance over the last 30 days
Largest options trades observed:
Symbol PUT/CALL Trade Type Sentiment Exp. Date Sell Buy Price Strike Total Traded Price Open Interest Volume MU Call Sweep Bullish 09/20/24 $4.3 $4.2 $4.3 $110.00 $567.4K 12.5K 1.3K MU Call Trade Bearish 09/06/24 $28.45 $27.7 $27.7 $80.00 $138.5K 110 50 MU Call Sweep Bearish 10/18/24 $5.8 $5.75 $5.8 $115.00 $80.6K 5.8K 356 MU Call Trade Bullish 01/17/25 $18.1 $17.8 $18.1 $100.00 $45.2K 9.4K 26 MU Call Trade Bearish 01/17/25 $19.8 $18.0 $18.0 $100.00 $45.0K 9.4K 26
About Micron Technology
Micron is one of the world's largest semiconductor companies, specializing in memory and storage chips. Its primary source of revenue comes from dynamic random access memory (DRAM), but it also has a small number of NAND flash chips. Micron serves a global customer base and sells chips for data centers, mobile phones, consumer electronics, industrial and automotive applications. The company is vertically integrated.
Micron Technology's Current Market Situation
Currently, the trading volume is 2,859,441 and MU's price has fallen -1.23%, currently trading at $106.66. The RSI reading indicates that the stock is currently in a neutral state between overbought and oversold. The expected earnings release is 35 days away.
Micron Technology Expert Analyst Evaluation
A total of 1 professional analysts have expressed their opinion on the stock in the last 30 days, with the average target price set at $145.0.
Analysts at Keybanc decided to maintain their overweight rating on Micron Technology, which currently has a price target of $145.
Options are a higher risk asset than stock trading alone, but they also offer a higher potential for profit. Serious options traders manage this risk by educating themselves daily, sizing their trades, following multiple indicators, and tracking the markets closely.
If you want to stay up to date with the latest options trades on Micron Technology, Benzinga Pro provides real-time options trading alerts.
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