Someone with a lot of money to spend has taken a bullish stance on Micron Technology MU.
And retailers should know that.
We noticed this today when the big position appeared on the history of publicly available options we track here at Benzinga.
Whether it is an institution or just a wealthy individual, we don’t know. But when something this big happens with MU, it often means someone knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga’s options scanner spotted 10 unusual options trades for Micron Technology.
It is not normal.
The general sentiment of these big traders is split between 70% bullish and 30% bearish.
Of all the special options we discovered, 2 are put options, totaling $53,410, and 8 are call options, totaling $425,672.
What is the target price?
Given the volume and open interest on these contracts, it appears whales have been targeting a price range of $35.0 to $64.0 for Micron Technology over the past 3 months.
Development of volume and open interest
Reviewing volume and open interest is an insightful way to perform due diligence on a security.
This data can help you track the liquidity and interest of Micron Technology options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for the entire whale business of Micron Technology within a strike price range of 35 $.0 to $64.0 in the last 30 days.
Micron Technology Option Volume and Open Interest in the Last 30 Days
The biggest options spotted:
| Symbol | PUT/CALL | Kind of trade | Feeling | Exp. Date | Strike price | Total trade price | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BULLISH | 09/16/22 | $52.50 | $85.5,000 | 482 | 414 |
| MU | CALL | SWEEP | BULLISH | 09/16/22 | $52.50 | $78,600 | 482 | 241 |
| MU | CALL | SWEEP | BEARISH | 06/21/24 | $40.00 | $71,100 | 100 | 30 |
| MU | CALL | SWEEP | BULLISH | 09/16/22 | $52.50 | $61,000 | 482 | 411 |
| MU | CALL | SWEEP | BULLISH | 09/16/22 | $52.50 | $46.6,000 | 482 | 94 |
| Symbol | PUT/CALL | Kind of trade | Feeling | Exp. Date | Strike price | Total trade price | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MU | CALL | SWEEP | BULLISH | 09/16/22 | $52.50 | $85.5,000 | 482 | 414 |
| MU | CALL | SWEEP | BULLISH | 09/16/22 | $52.50 | $78,600 | 482 | 241 |
| MU | CALL | SWEEP | BEARISH | 06/21/24 | $40.00 | $71,100 | 100 | 30 |
| MU | CALL | SWEEP | BULLISH | 09/16/22 | $52.50 | $61,000 | 482 | 411 |
| MU | CALL | SWEEP | BULLISH | 09/16/22 | $52.50 | $46.6,000 | 482 | 94 |
Where is Micron technology right now?
- With a volume of 1,342,994, the price of MU is down -0.18% at $56.91.
- RSI indicators suggest that the underlying stock is currently neutral between overbought and oversold.
- The next results should be published in 30 days.
What experts say about Micron technology:
- Deutsche Bank has decided to maintain its buy rating on Micron Technology, which currently sits at a price target of $68.
- Raymond James downgraded its stock to Outperform with a price target of $65
- Mizuho has decided to maintain its buy rating on Micron Technology, which currently sits at a price target of $75.
- Citigroup has decided to maintain its buy rating on Micron Technology, which currently sits at a price target of $75.
Options are a riskier asset than just trading stocks, but they have a higher profit potential. Serious options traders manage this risk by educating themselves daily, increasing and decreasing trades, following more than one indicator, and following the markets closely.
If you want to stay up to date on the latest options trades for Micron Technology, Benzinga Pro gives you real-time options trade alerts.
