Deep-pocketed investors have adopted a bearish approach towards Micron Technology (NASDAQ:MU), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 29 extraordinary options activities for Micron Technology. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 58% bearish. Among these notable options, 16 are puts, totaling $704,174, and 13 are calls, amounting to $1,091,842.
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 $60.0 to $105.0 for Micron Technology during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Micron Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Micron Technology's significant trades, within a strike price range of $60.0 to $105.0, over the past month.
Micron Technology Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BULLISH | 01/17/25 | $15.45 | $15.3 | $15.45 | $85.00 | $309.0K | 8.4K | 229 |
| MU | CALL | SWEEP | BEARISH | 01/17/25 | $5.0 | $4.9 | $4.92 | $105.00 | $255.4K | 8.2K | 603 |
| MU | PUT | SWEEP | BULLISH | 02/21/25 | $7.45 | $7.45 | $7.45 | $95.00 | $124.5K | 2.0K | 214 |
| MU | PUT | SWEEP | BEARISH | 12/20/24 | $7.35 | $7.3 | $7.35 | $100.00 | $86.7K | 11.3K | 129 |
| MU | PUT | SWEEP | BEARISH | 03/21/25 | $11.5 | $11.45 | $11.5 | $100.00 | $75.9K | 5.2K | 124 |
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.
In light of the recent options history for Micron Technology, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Micron Technology Standing Right Now?
- Trading volume stands at 3,754,244, with MU's price down by -0.38%, positioned at $97.14.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 29 days.
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