Someone with a lot of money to spend has taken a bullish stance Micron Technology IN.
And retailers need to 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 wealthy individual, we don’t know. But when something this big happens to MU, it often means that someone knows something is going to happen.
So how do we know what this whale did?
Today, Benzinga’s options scanner spotted 10 unusual options trades for Micron Technology.
This is not normal.
The overall sentiment of these big money traders is split between 80% bullish and 20% bearish.
Of all the special options we uncovered, 4 are puts, for a total of $204,640, and 6 are calls, for a total of $243,475.
What is the price target?
Given the volume and open interest in these contracts, it appears that whales have been targeting a price range of $37.5 to $68.0 for Micron Technology over the past 3 months.
Volume and development of open interest
Looking at volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest in Micron Technology options for a given strike price. Below, we can observe the evolution of volume and call and call open interest, respectively, for all Micron Technology whale trades within a strike price from $37.5 to $68.0 in the last 30 days.
Micron Technology option volume and open interest over the past 30 days
Largest options found:
| symbol | PUT/CALL | Type of trade | Feeling | Exp. date | Fixed price | Total trade price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| IN | SETTLING | ERASE | wave | 18.11.22 | $60.00 | 79.2 thousand dollars | 353 | 161 |
| IN | call | commerce | BULLY | 20.01.23 | $67.50 | 72.0 thousand dollars | 2.9 thousand | 180 |
| IN | SETTLING | ERASE | BULLY | 17.03.23 | $65.00 | 57.7 thousand dollars | 672 | 55 |
| IN | call | ERASE | BULLY | 21.10.22 | $62.50 | 47.7 thousand dollars | 3.7 thousand | 112 |
| IN | SETTLING | ERASE | BULLY | 20.01.23 | $37.50 | 40.8 thousand dollars | 15.7 thousand | 498 |
| symbol | PUT/CALL | Type of trade | Feeling | Exp. date | Fixed price | Total trade price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| IN | SETTLING | ERASE | wave | 18.11.22 | $60.00 | 79.2 thousand dollars | 353 | 161 |
| IN | call | commerce | BULLY | 20.01.23 | $67.50 | 72.0 thousand dollars | 2.9 thousand | 180 |
| IN | SETTLING | ERASE | BULLY | 17.03.23 | $65.00 | 57.7 thousand dollars | 672 | 55 |
| IN | call | ERASE | BULLY | 21.10.22 | $62.50 | 47.7 thousand dollars | 3.7 thousand | 112 |
| IN | SETTLING | ERASE | BULLY | 20.01.23 | $37.50 | 40.8 thousand dollars | 15.7 thousand | 498 |
Where does Micron technology stand now?
- With a volume of 3,778,122, the price of MU has increased by 4.47% to $60.91.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- The next earnings are expected to be published in 33 days.
What experts say about Micron technology:
- Deutsche Bank has decided to maintain its Buy rating on Micron Technology, which currently has a price target of $68.
- Mizuho has decided to maintain their Buy rating on Micron Technology, which currently has a price target of $75.
- Raymond James lowered its stock to Outperform with a price target of $65
- Citigroup has decided to maintain their Buy rating on Micron Technology, which currently has a price target of $75.
Options are a riskier asset compared to stock trading, 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 up to date on the latest options trading for Micron Technology, Benzinga Pro gives you real-time options trading alerts.