Micron Technology's Options Frenzy: What You Need to Know

Deep-pocketed investors have adopted a bearish approach towards Micron Technology MU, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MU usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Micron Technology. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 13% leaning bullish and 80% bearish. Among these notable options, 8 are puts, totaling $565,394, and 7 are calls, amounting to $354,723.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $120.0 for Micron Technology over the recent three months.

Volume & Open Interest Trends

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 $70.0 to $120.0 over the preceding 30 days.

Micron Technology 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

After a thorough review of the options trading surrounding Micron Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Micron Technology

• With a volume of 1,886,364, the price of MU is down -1.9% at $101.15.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 2 days.

What The Experts Say On Micron Technology

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $128.33.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Micron Technology with a target price of $130. * In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $125. * An analyst from UBS has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $130.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Micron Technology options trades with real-time alerts from Benzinga Pro.