Whales with a lot of money to spend have taken a noticeably bearish stance on Micron Technology.
Looking at options history for Micron Technology (NASDAQ:MU) we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $188,510 and 7, calls, for a total amount of $425,205.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $150.0 for Micron Technology over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Micron Technology stands at 4169.27, with a total volume reaching 547.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Micron Technology, situated within the strike price corridor from $100.0 to $150.0, throughout the last 30 days.
Micron Technology Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BULLISH | 08/16/24 | $4.95 | $4.8 | $4.9 | $140.00 | $98.0K | 11.2K | 99 |
| MU | CALL | SWEEP | BEARISH | 07/05/24 | $2.67 | $2.53 | $2.56 | $131.00 | $77.5K | 1.0K | 72 |
| MU | CALL | SWEEP | BEARISH | 01/17/25 | $39.2 | $37.45 | $37.93 | $100.00 | $75.8K | 8.5K | 0 |
| MU | CALL | SWEEP | BULLISH | 07/26/24 | $4.65 | $4.6 | $4.65 | $134.00 | $73.0K | 522 | 9 |
| MU | PUT | SWEEP | BULLISH | 07/05/24 | $1.16 | $1.07 | $1.07 | $128.00 | $71.2K | 2.6K | 230 |
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
Current Position of Micron Technology
- Trading volume stands at 1,435,473, with MU's price down by -0.09%, positioned at $131.41.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 86 days.
What Analysts Are Saying About Micron Technology
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $166.4.
- An analyst from Needham persists with their Buy rating on Micron Technology, maintaining a target price of $150.
- An analyst from Baird persists with their Outperform rating on Micron Technology, maintaining a target price of $172.
- Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Micron Technology, targeting a price of $180.
- An analyst from Keybanc persists with their Overweight rating on Micron Technology, maintaining a target price of $160.
- Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on Micron Technology with a target price of $170.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Micron Technology with Benzinga Pro for real-time alerts.