Deep-pocketed investors have adopted a bullish 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 89 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 49% leaning bullish and 41% bearish. Among these notable options, 14 are puts, totaling $1,005,040, and 75 are calls, amounting to $5,121,736.
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 $65.0 to $220.0 for Micron Technology during the past quarter.
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 $65.0 to $220.0 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.
Following our analysis of the options activities associated with Micron Technology, we pivot to a closer look at the company’s own performance.
Present Market Standing of Micron Technology
Currently trading with a volume of 17,793,133, the MU’s price is up by 3.92%, now at $163.44.
RSI readings suggest the stock is currently may be overbought.
Anticipated earnings release is in 79 days.
Professional Analyst Ratings for Micron Technology
5 market experts have recently issued ratings for this stock, with a consensus target price of $201.0.
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. * Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Micron Technology, targeting a price of $200. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Micron Technology, targeting a price of $220. * An analyst from Keybanc has decided to maintain their Overweight rating on Micron Technology, which currently sits at a price target of $215. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Micron Technology with a target price of $175. * An analyst from UBS has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $195.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.