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Check Out What Whales Are Doing With Micron Technology

By Benzinga Insights

Someone with a lot of money to spend has taken a bearish stance on Micron Technology (NASDAQ:MU).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with MU, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 68 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.

Out of all of the special options we uncovered, 30 are puts, for a total amount of $2,168,583, and 38 are calls, for a total amount of $2,486,347.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $90.0 for Micron Technology over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Micron Technology options trades today is 4629.04 with a total volume of 30,986.00.

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 $40.0 to $90.0 over the last 30 days.

Micron Technology Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MU PUT TRADE BULLISH 06/17/22 $67.50 $387.5K 7.1K 1.9K
MU CALL TRADE BULLISH 01/20/23 $70.00 $360.0K 5.1K 381
MU PUT SWEEP BEARISH 05/27/22 $72.00 $267.5K 361 833
MU CALL SWEEP BEARISH 06/17/22 $72.50 $235.4K 4.4K 2.5K
MU CALL TRADE BULLISH 01/19/24 $72.50 $175.0K 255 100

Where Is Micron Technology Standing Right Now?

  • With a volume of 17,958,007, the price of MU is up 6.68% at $72.23.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 47 days.

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.

If you want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.

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