Spotlight on Micron Technology: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on Micron Technology (NASDAQ:MU).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MU, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 28 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 35%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $828,403, and 19 are calls, for a total amount of $1,461,332.

Predicted Price Range

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 $180.0 for Micron Technology during the past quarter.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Micron Technology's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Micron Technology's substantial trades, within a strike price spectrum from $60.0 to $180.0 over the preceding 30 days.

Micron Technology Option Activity Analysis: 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 PUT TRADE BEARISH 01/17/25 $3.2 $3.1 $3.19 $90.00 $319.0K 5.8K 1.0K
MU CALL TRADE BULLISH 06/20/25 $10.15 $9.8 $10.1 $180.00 $262.6K 347 266
MU CALL SWEEP BULLISH 06/20/25 $17.15 $16.4 $17.1 $150.00 $212.0K 5.1K 124
MU CALL SWEEP BULLISH 09/20/24 $14.45 $14.3 $14.44 $125.00 $177.6K 1.3K 124
MU PUT SWEEP BULLISH 06/21/24 $4.7 $4.6 $4.65 $125.00 $126.0K 3.5K 804

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

Where Is Micron Technology Standing Right Now? With a trading volume of 4,805,416, the price of MU is down by -0.65%, reaching $126.67. Current RSI values indicate that the stock is may be approaching overbought. Next earnings report is scheduled for 35 days from now. What Analysts Are Saying About Micron Technology

In the last month, 4 experts released ratings on this stock with an average target price of $143.75.

In a positive move, an analyst from Baird has upgraded their rating to Outperform and adjusted the price target to $150. In a positive move, an analyst from Morgan Stanley has upgraded their rating to Equal-Weight and adjusted the price target to $130. An analyst from Barclays persists with their Overweight rating on Micron Technology, maintaining a target price of $145. Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Micron Technology with a target price of $150.

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.