Investors with big money are bullish on Micron Technology MU.
Retailers should know.
I noticed this today when a trade appeared in the public options history we’re tracking on Benzinga.
We don’t know if these are institutional investors or simply wealthy individuals, but having something this big happen at MU means someone knows something is about to happen.
So how do we know what these investors have done?
Benzinga’s options scanner discovered 16 unusual options trades for Micron Technology today.
This is not normal.
The overall sentiment of these large traders is split with 56% bulls and 37% bears.
Of all the special options we found, five were puts totaling $185,673 and eleven were calls totaling $3,111,931.
Estimated Price Target
After evaluating the trading volume and open interest, it becomes clear that key market movers have been keeping an eye on Micron Technology’s price range of $87.5 to $180.0 over the past three months.
Insights into trading volumes and open interest
Looking at trading volume and open interest is a useful way to conduct due diligence on a stock.
This data helps track liquidity and interest in Micron Technology options at specific strike prices.
Below you can see the progress of trading volume and open interest for each of the calls and puts for all whale activity on Micron Technology within the strike price range of $87.5 to $180.0 over the past 30 days.
Micron Technology Options Activity Analysis: Last 30 Days
The biggest options found are:
Symbol PUT/CALL Trade Type Sentiment Exp. Date Sell Buy Price Strike Total Traded Price Open Interest Volume MU Call Trade Bearish 10/18/24 $11.2 $11.05 $11.06 $140.00 $2.3M 3.5K 25 MU Call Trade Bearish 01/16/26 $34.5 $31.95 $31.95 $135.00 $159.7K 275 0 MU Call Trade Bullish 01/16/26 $41.1 $41.05 $41.1 $115.00 $119.1K 251 0 MU Call Sweep Bearish 07/05/24 $1.88 $1.84 $1.86 $132.00 $101.4K 6.5K 0 MU Call Trade Bullish 08/16/24 $25.0 $24.15 $25.0 $110.00 $100.0K 812 0
About Micron Technology
Micron is one of the world’s largest semiconductor companies, specializing in memory and storage chips. Its primary source of revenue comes from dynamic random access memory (DRAM), but it also has a small number of non-NAND flash chips. Micron serves a global customer base and sells chips for data centers, mobile phones, consumer electronics, industrial and automotive applications. The company is vertically integrated.
Following our analysis of options trades related to Micron Technology, we’ll take a closer look at the company’s own performance.
Where does Micron Technology stand now?
MU has a trading volume of 2,945,191 and is up 0.2% at $132.86. The RSI indicator suggests that the underlying stock is currently neutral between overbought and oversold. The next earnings are due to be released in 84 days.
Micron Technology Expert Analyst Evaluation
Five market experts have recently issued their ratings on the stock, with the consensus target price coming in at $185.4.
Wells Fargo analysts decided to maintain an Overweight rating on Micron Technology, and the company’s current price target is $190. B of A Securities analysts maintained their stance and maintained a Buy rating on Micron Technology, with a price target of $170. Rosenblatt analysts maintained their stance and maintained a Buy rating on Micron Technology, with a price target of $225. Baird analysts maintained their stance and maintained an Outperform rating on Micron Technology, with a price target of $172. Wedbush analysts maintained an Outperform rating on Micron Technology, with a price target of $170.
Options trading involves higher risks and potential rewards. Smart traders manage these risks by continually self-educating themselves, adapting their strategies, monitoring multiple indicators and closely watching market movements. Stay up to date on the latest Micron Technology options trades with Benzinga Pro’s real-time alerts.
