Deep-pocketed investors have adopted a bullish approach towards Micron Technology 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 19 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 52% leaning bullish and 47% bearish. Among these notable options, 6 are puts, totaling $266,875, and 13 are calls, amounting to $550,533.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $57.5 and $100.0 for Micron Technology, spanning the last three months.
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 $57.5 to $100.0 in the last 30 days.
Micron Technology Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | TRADE | BULLISH | 01/19/24 | $70.00 | $115.0K | 16.9K | 5 |
| MU | PUT | SWEEP | BEARISH | 06/21/24 | $80.00 | $89.9K | 325 | 112 |
| MU | PUT | SWEEP | BULLISH | 06/20/25 | $67.50 | $59.2K | 51 | 1 |
| MU | CALL | SWEEP | BULLISH | 11/24/23 | $78.00 | $56.1K | 388 | 728 |
| MU | CALL | TRADE | BULLISH | 06/20/25 | $75.00 | $52.7K | 95 | 0 |
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?
- With a trading volume of 6,889,286, the price of MU is up by 0.47%, reaching $77.53.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 35 days from now.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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