Analysts Keep Hiking Micron's Revenue and Price Forecasts - Shorting MU Puts Works Here

Analysts have been continuously hiking their revenue forecasts and price targets for Micron Technology (MU). MU stock is off its recent highs, so shorting out-of-the-money (OTM) MU puts in nearby expiry periods is attractive to value investors. This article will show how that works.

MU closed at $949.83 on Thursday, Aug. 13, up +4.23%. It is still well below a recent peak of $1,213.56 on June 25, right after its June 24 fiscal Q3 earnings release. However, it has recovered nicely from a market close low of $739.00 on July 29.