See what whales are doing with Micron technology

Someone with a lot of money to spend has taken a bearish position Micron technology IN.

And retailers should know.

We noticed this today when the large position appeared in the publicly available options history we track here at Benzinga.

Whether this is an institution or just a rich person, we don’t know. But when something this big happens to MU, it often means someone knows something is going to happen.

So how do we know what this whale did?

Today, Benzinga’s options scanner spotted 11 unusual options trades for Micron Technology.

It is not normal.

The overall sentiment among these big money traders is split between 18% bullish and 81% bearish.

Of all the special options we uncovered, 7 were puts, for a total of $401,693, and 4 were calls, for a total of $298,021.

What is the target price?

Taking into account the volume and open interest on these contracts, it appears that whales have been targeting a price range of $55.0 to $85.0 for Micron Technology over the past 3 months.

Volume development and open interest

Looking at volume and open interest is an insightful way to do your due diligence on a stock.

This data can help you track the liquidity and interest in Micron Technology options for a given strike price.

Below we can observe the development of volume and call and put open interest, respectively, for all of Micron Technology’s whale activity within a price range of $55.0 to $85.0 over the past 30 days.

Micron Technology Option Volume and Open Interest over the past 30 days

Biggest Options Spotted:

Symbol PUT/CALL Trade type moods Exp. Date Strike Price Total trade price Open interest Sound volume
IN I PUT SWEEP BEARS 20.01.23 $62.50 182.1 thousand dollars 10.7K 350
IN CALL SWEEP WHIP 17.03.23 $65.00 $121.0K 685 0
IN I PUT SWEEP BEARS 20.01.23 $62.50 72.8 thousand dollars 10.7K 100
IN CALL TRADE BEARS 19.08.22 $60.00 $66.0K 12.9K 1.0K
IN CALL SWEEP BEARS 19.08.22 $60.00 62.8 thousand dollars 12.9K 539
Symbol PUT/CALL Trade type moods Exp. Date Strike Price Total trade price Open interest Sound volume
IN I PUT SWEEP BEARS 20.01.23 $62.50 182.1 thousand dollars 10.7K 350
IN CALL SWEEP WHIP 17.03.23 $65.00 $121.0K 685 0
IN I PUT SWEEP BEARS 20.01.23 $62.50 72.8 thousand dollars 10.7K 100
IN CALL TRADE BEARS 19.08.22 $60.00 $66.0K 12.9K 1.0K
IN CALL SWEEP BEARS 19.08.22 $60.00 62.8 thousand dollars 12.9K 539

Where is Micron technology right now?

  • With volume of 3,063,745, MU price decreased -2.92% to $61.14.
  • RSI indicators suggest that major stocks are currently neutral between overbought and oversold.
  • The next earnings are expected to be published in 39 days.

Options are a riskier asset than just trading stocks, but have a higher potential for profit. Serious options traders manage this risk by learning daily, expanding and exiting trades, following more than one indicator, and watching the markets closely.

If you want to stay up to date with the latest options trades for Micron Technology, Benzinga Pro gives you real-time option trade alerts.

Leave a Comment