What Whales Are Doing With Micron Technology – Micron Technology (NASDAQ:MU)

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

And retailers should know.

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

Whether this is an institution or just a rich person, we do not 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 just 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 63% bullish and 36% bearish.

Of all the special options we uncovered, 7 were puts, for a total of $2,146,610, and 4 were calls, for a total of $342,274.

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 $50.0 to $62.5 for Micron Technology over the past 3 months.

Volume development and open interest

Looking at volume and open interest is a powerful move in options trading. 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 call and put volume and open interest, respectively, for all Micron Technology putty trades within a strike price range of $50.0 to $62.5 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 TRADE WHIP 17.03.23 $55.00 1.6 million dollars 1.2K 2.7K
IN CALL TRADE BEARS 16.12.22 $62.50 185.8 thousand dollars 5.3K 132
IN I PUT TRADE WHIP 17.03.23 $55.00 122.4 thousand dollars 1.2K 2.9K
IN I PUT TRADE WHIP 17.03.23 $55.00 $121.6K 1.2K 3.4K
IN CALL SWEEP WHIP 18.11.22 $55.00 $73.3K 11.2K 1.2K
Symbol PUT/CALL Trade type moods Exp. Date Strike Price Total trade price Open interest Sound volume
IN I PUT TRADE WHIP 17.03.23 $55.00 1.6 million dollars 1.2K 2.7K
IN CALL TRADE BEARS 16.12.22 $62.50 185.8 thousand dollars 5.3K 132
IN I PUT TRADE WHIP 17.03.23 $55.00 122.4 thousand dollars 1.2K 2.9K
IN I PUT TRADE WHIP 17.03.23 $55.00 $121.6K 1.2K 3.4K
IN CALL SWEEP WHIP 18.11.22 $55.00 $73.3K 11.2K 1.2K

Where is Micron technology right now?

  • With volume of 4,504,529, MU price decreased -1.37% to $55.28.
  • RSI indicators suggest that major stocks may be approaching overbought.
  • The next earnings are expected to be published in 56 days.

What experts say about Micron technology:

  • Deutsche Bank decided to maintain its Buy rating on Micron Technology, which currently has a price target of $60.
  • Stifel decided to maintain their Hold rating on Micron Technology, which currently has a price target of $54.
  • Needham decided to maintain their Buy rating on Micron Technology, which currently has a price target of $60.
  • B of A Securities decided to maintain its neutral rating on Micron Technology, which currently has a price target of $58.
  • Piper Sandler decided to maintain its Underweight rating on Micron Technology, which currently has a price target of $45.

Options are a riskier asset compared to 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.

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