People with a lot of money to spend Micron Technology mu.
Retailers should know.
We noticed this today when we had large positions in the publicly available options history tracked by Benzinga.
Whether it was an institution or just a wealthy individual, we don’t know. But when something this big happens at MU, it usually means someone knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga’s options scanner uncovered 12 unusual options trades from Micron.
This is not normal.
The overall sentiment among these large-cap traders is 25% bullish and 75% bearish.
Of all the special options we found, 4 were puts with a total amount of $333,140, and 8 were calls with a total amount of $655,579.
What is the price target?
Considering the volume and open interest in these contracts, whales appear to have been targeting Micron in the $43.0 to $75.0 range over the past 3 months.
Volume and Open Interest Development
Looking at trading volume and open interest is an insightful way to do due diligence on a stock.
This data can help you track the liquidity and interest of Micron Technology options at a given strike price.
Below, we can separately observe the change in bullish and bearish volume from $43.0 to $75.0 over the last 30-day strike price range for all of Micron’s whale activity.
Micron Technology options trading volume and open interest over the past 30 days
Largest options found:
| symbol | bearish/bullish | Transaction Type | mood | predecessor.date | strike price | total transaction price | Open Interest | volume |
|---|---|---|---|---|---|---|---|---|
| mu | Excellent | trading | bullish | 12/02/22 | $43.00 | $177,500 | 37 | 2.5K |
| mu | call | whip | bearish | 3/17/23 | $75.00 | $175,300 | 3.2K | 1.5K |
| mu | call | whip | bullish | 11/18/22 | $57.50 | $169.2K | 7.9K | 7.9K |
| mu | call | whip | bearish | 3/17/23 | $75.00 | $114,200 | 3.2K | 2.5K |
| mu | Excellent | trading | bullish | 12/16/22 | $70.00 | $85.7K | 456 | 50 |
| symbol | bearish/bullish | Transaction Type | mood | predecessor.date | strike price | total transaction price | Open Interest | volume |
|---|---|---|---|---|---|---|---|---|
| mu | Excellent | trading | bullish | 12/02/22 | $43.00 | $177,500 | 37 | 2.5K |
| mu | call | whip | bearish | 3/17/23 | $75.00 | $175,300 | 3.2K | 1.5K |
| mu | call | whip | bullish | 11/18/22 | $57.50 | $169.2K | 7.9K | 7.9K |
| mu | call | whip | bearish | 3/17/23 | $75.00 | $114,200 | 3.2K | 2.5K |
| mu | Excellent | trading | bullish | 12/16/22 | $70.00 | $85,700 | 456 | 50 |
Where does Micron Technology stand now?
- MU traded at 8,460,991 and its price rose 1.65% to $53.59.
- The RSI indicator suggests that the underlying stock may be close to being overbought.
- The next earnings release is expected within 63 days.
What experts say about Micron Technology:
- UBS decided to maintain a Buy rating on Micron Technology, with a current price target of $75.
- Wells Fargo decided to maintain an Overweight rating on Micron Technology with a current price target of $75.
- BMO Capital decided to maintain an overweight rating on Micron Technology, with a current target price of $70.
- Stifel downgrades its Action rating to Hold with $56 price target
- B of A Securities decided to maintain its neutral rating on Micron Technology with a current price target of $58.
Options are a riskier asset than just trading stocks, but they have higher earning potential. Serious options traders manage this risk by educating themselves on a daily basis, scaling up and down trades, tracking multiple indicators, and keeping an eye on the market.
If you want to stay informed about the latest options trades from Micron Technology, Benzinga Pro provides you with real-time options trade alerts.