A whale with lots of money to spend has taken an apparently bearish stance micron technology,
Looking at option history for Micron Technology Mu We unearthed 41 weird trades.
If we consider the specifics of each trade, it would be fair to say that 48% of investors opened trades with bullish expectations and 51% with bearish ones.
Of the total observed trades, 20 are puts, totaling $2,171,127 and 21, calls, for a total amount of $2,087,233.
What is a price target?
Considering the volume and open interest on these contracts, it appears that whales are targeting a price range of $45.0 to $92.5 for Micron Technology over the past 3 months.
Volume and Open Interest Development
Looking at volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest for Micron Technology’s options for a given strike price. Below, we can see the evolution of call and put volumes and open interest, respectively, for all of Micron Technology’s whale trades within the strike price range $45.0 to $92.5 over the past 30 days.
Micron Technology Option Volume and Open Interest over the last 30 days
Largest options seen:
| Sign | put/call | business type | Rate | Exp. date | strike price | net trade value | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| Mu | Keep | Business | fast | 10/20/23 | $65.00 | $728.0K | 213 | 800 |
| Mu | call | Business | recession | 01/19/24 | $70.00 | $570.0K | 5.3 thousand | 1.0K |
| Mu | call | sweep | fast | 01/19/24 | $60.00 | $305.3K | 6.7 thousand | 0 |
| Mu | Keep | sweep | recession | 05/19/23 | $52.50 | $278.9K | 683 | 1.9 thousand |
| Mu | Keep | sweep | fast | 06/16/23 | $45.00 | $201.9K | 3.7 thousand | 3.3K |
| Sign | put/call | business type | Rate | Exp. date | strike price | net trade value | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| Mu | Keep | Business | fast | 10/20/23 | $65.00 | $728.0K | 213 | 800 |
| Mu | call | Business | recession | 01/19/24 | $70.00 | $570.0K | 5.3 thousand | 1.0K |
| Mu | call | sweep | fast | 01/19/24 | $60.00 | $305.3K | 6.7 thousand | 0 |
| Mu | Keep | sweep | recession | 05/19/23 | $52.50 | $278.9K | 683 | 1.9 thousand |
| Mu | Keep | sweep | fast | 06/16/23 | $45.00 | $201.9K | 3.7 thousand | 3.3K |
Where does Micron Technology stand now?
- MU price is down -2.24% to $59.79, with a volume of 15,805,572.
- The RSI indicator is indicating that the underlying stock may be overbought.
- The next earnings release is expected in 1 day.
What the experts say at Micron Technology:
- Evercore ISI Group has decided to maintain its Outperform rating on Micron Technology, currently with a price target of $75.
- Raymond James outperforms its stock with a price target of $70
- BMO Capital downgraded its action to Outperform with a price target of $67.
Options are a riskier asset than stock trading, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scalping 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 Provides you with real-time options trade alerts.