Looking at recent Micron Technology unusual options activity – Micron Technology (NASDAQ:MU)


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Investors with plenty of cash to spend have kept a low profile Micron Technology (NASDAQ:MU).

And retailers should know.

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We noticed this today when markets appeared in the 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 to MU, it often means that someone knows something is going to happen.

So how do we know what these investors have been up to?

Today, Benzinga’s options scanner spotted 37 unusual options trades for Micron Technology.

This is not normal.

The overall sentiment among these big money traders is split between 37% bullish and 62% bearish.

Of all the special options we uncovered, 6 are puts, for a total of $238,212, and 31 are calls, for a total of $1,961,476.

What is the price target?

Considering the volume and open interest in these contracts, it appears that whales have been targeting a price range of $60.0 to $135.0 for Micron Technology over the past 3 months.

By analyzing volume and open interest


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Examining volume and open interest provides essential insights into stock research. This information is key in measuring liquidity and interest levels for Micron Technology options with certain strike prices. Below, we present a summary of trends in volume and open interest for calls and bids in key Micron Technology markets, within a strike price range of $60.0 to $135.0, over the past month.

Photo of Micron Technology 30-Day Options Volume and Interest

Biggest Options Trades Observed:

symbol PUT/CALL Type of trade thought Exp. date Fixed price Total trade price Open interest Volume
IN call ERASE BULLY 04/05/24 $121.00 236.4 thousand dollars 3.3K 1.6 thousand
IN call TradE wave 19.04.24 $100.00 185.0 thousand dollars 12.2 thousand 160
IN call TradE BULLY 19.04.24 $100.00 182.0 thousand dollars 12.2 thousand 54
IN call ERASE wave 04/12/24 $120.00 104.3 thousand dollars 2.6 thousand 40
IN call TradE BULLY 19.12.25 $97.50 79.0 thousand dollars 35 0

About Micron Technology

Micron is one of the world’s largest semiconductor companies, specializing in memory and storage chips. Its main revenue stream comes from dynamic random access memory, or DRAM, and it also has small exposure to non-and, or NAND, flash chips. Micron serves a global customer base, selling chips in data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.

Having reviewed the Micron Technology options trading patterns, our attention is now directed directly to the company. This change allows us to delve deeper into the current market position and performance

Current position of Micron Technology

  • Trading volume stood at 8,109,624, with the MU price up 0.41% to settle at $119.29.
  • RSI indicators indicate that the stock may be overbought.
  • The earnings announcement is expected in 91 days.

Expert opinions on Micron Technology

5 market experts have recently issued ratings on the stock, with a consensus target price of $122.6.

  • In line with their rating, an analyst from Stifel maintains a Buy rating on Micron Technology with a target price of $140.
  • Keeping their stance, an analyst from Piper Sandler continues to maintain an overweight rating on Micron Technology, with a price target of $130.
  • Keeping their stance, an analyst from Wedbush continues to maintain an outperform rating on Micron Technology, with a price target of $103.
  • Keeping their stance, an analyst from Barclays continues to maintain an overweight rating on Micron Technology, with a price target of $120.
  • Showing optimism, an analyst from Stifel upgrades his rating to Buy with a revised price target of $120.

Trading options involves greater risks, but also offers the potential for higher profits. Smart traders mitigate these risks through continuous education, strategic trade adjustments, use of various indicators and staying tuned to market dynamics. Keep up with the latest trading options for Micron Technology with Benzinga Pro for real-time alerts.


This 141-year-old retailer is beating Amazon

Forget the tech giants. This older stock is expanding faster by increasing dividends. Believe it or not, it has easily beaten Amazon’s 117% since 2019. By reading Benzinga’s latest insiders-only report, you can set yourself up for future gains and income with this stock, plus more a lot.Get access for just $0.99.


© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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