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Investors with large amounts of money at their disposal are taking a bullish stance. micron technology (NASDAQ:MU).
And retail traders should know.
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We realized this today when a position appeared in the public options history we track here at Benzinga.
I don’t know if these are organizations or just wealthy individuals. But for something this big to happen at MU often means someone knows something is about to happen.
Benzinga’s Options Scanner found 12 option trades today. micron technology.
This is not normal.
The overall sentiment among these large traders is split between 66% bullish and 33% bearish.
Of all the options we found, there was 1 put totaling $40,280 and 11 calls totaling $722,579.
Expected price target
After evaluating trading volume and open interest, it’s clear that major market movers have focused on Micron Technology’s $120.0 to $170.0 price range over the past three months.
Insights into volume and open interest
Examining volume and open interest can provide important insights into stock research. This information is important in evaluating the liquidity and interest rate level of Micron Technology’s options at a particular strike price. Below is a snapshot of call and put volume and open interest trends across Micron Technology’s significant trades within the $120.0 to $170.0 strike price range over the past month.
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Micron Technology Call and Put Volume: 30 Day Overview
Optional activities of note:
| symbol | put/call | transaction type | emotion | Experience date | listen | bid | price | strike price | Total transaction price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mu | phone | sweep | strong | 04/05/24 | $10.0 | $9.7 | $9.88 | $120.00 | $198.5,000 | 7.6K | 36 |
| Mu | phone | sweep | strong | 04/05/24 | $2.1 | $2.06 | $2.1 | $127.00 | $146.9,000 | 2.2K | 2.8K |
| Mu | phone | trade | strong | 04/19/24 | $4.5 | $4.35 | $4.45 | $130.00 | 89.0 thousand dollars | 28.0K | 3.3K |
| Mu | phone | trade | bearish | 04/05/24 | $2.44 | $2.35 | $2.35 | $129.00 | 47.0 thousand dollars | 3.6K | twenty four |
| Mu | phone | sweep | strong | 08/16/24 | $4.35 | $4.2 | $4.3 | $170.00 | 43.0 thousand dollars | 175 | 201 |
About Micron Technology
Micron is one of the world’s largest semiconductor companies, specializing in memory and storage chips. The company’s main source of revenue is dynamic random access memory (DRAM), but it also has a small investment in NAND flash chips. Micron serves a global customer base and sells chips for data centers, mobile phones, consumer electronics, industrial and automotive applications. This company is vertically integrated.
Following our analysis of options activity related to Micron Technology, we will now focus on taking a closer look at the company’s own performance.
Micron Technology’s current market situation
- The trading volume was 5,056,411, and the MU price increased by 0.43% to $128.56.
- The current RSI value indicates that the stock may be overbought.
- The company’s next earnings report is scheduled for 83 days.
Micron Technology evaluation by professional analysts
Last month, 5 experts issued their ratings for this stock, with an average price target of $118.0.
- Consistent with that assessment, Wells Fargo analysts maintain an “overweight” rating on Micron Technology, with a price target of $135.
- Mizuho analysts maintained a “buy” rating on Micron Technology and kept the price target unchanged at $124.
- Wedbush analysts have maintained an Outperform rating on Micron Technology, with a current price target of $103.
- Mizuho analysts cautiously lowered their investment judgment to “buy” and set a price target of $130.
- Morgan Stanley analysts maintain their stance, pricing Micron Technology’s stock at $98 and maintaining an underweight rating.
Options are a riskier asset than just trading stocks, but they offer higher profit potential. Serious options traders manage this risk by educating themselves every day, scaling their trades in and out, following multiple indicators, and closely monitoring the market.
If you want to stay up to date on the latest options trades for Micron Technology, Benzinga Pro provides real-time options trade alerts.
Crypto whale is loading — are you there?
New research shows the biggest crypto buyers are coming back. And this time? It may be possible for Bitcoin to exceed $100,000 in 2024. You don’t want to miss out on the next big crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Visit Benzinga for the best cryptocurrency research and investing for just $1.
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