Deep-pocketed investors have adopted a bearish approach towards Micron Technology (NASDAQ: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 12 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 16% leaning bullish and 75% bearish. Among these notable options, 4 are puts, totaling $351,635, and 8 are calls, amounting to $370,510.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $87.5 to $115.0 for Micron Technology during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 3119.82 with a total volume of 1,872.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Micron Technology's big money trades within a strike price range of $87.5 to $115.0 over the last 30 days.
Micron Technology Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MU | PUT | SWEEP | BEARISH | 11/29/24 | $3.7 | $3.6 | $3.7 | $106.00 | $131.3K | 845 | 360 |
| MU | PUT | TRADE | BEARISH | 05/16/25 | $19.25 | $19.25 | $19.25 | $115.00 | $96.2K | 568 | 150 |
| MU | CALL | TRADE | BEARISH | 12/20/24 | $7.35 | $7.25 | $7.25 | $102.00 | $72.5K | 125 | 101 |
| MU | PUT | TRADE | BEARISH | 12/20/24 | $7.2 | $7.15 | $7.2 | $105.00 | $72.0K | 6.5K | 107 |
| MU | CALL | TRADE | BULLISH | 01/17/25 | $18.4 | $17.7 | $18.4 | $87.50 | $62.5K | 1.3K | 34 |
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.
Current Position of Micron Technology With a trading volume of 750,306, the price of MU is up by 0.62%, reaching $103.4. Current RSI values indicate that the stock is is currently neutral between overbought and oversold. Next earnings report is scheduled for 26 days from now.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
