Micron Technology Huge, Unusual Put Option Activity - a Bullish Signal as MU Rises 12%

Micron Technology (MU) stock has been on a tear. It's up 100% since a recent trough on March 30 and is still rising, up over 10% today again. That has pushed MU put option premiums sky high. As a result, a Barchart report today shows unusual out-of-the-money (OTM) MU put option activity. That's a bullish signal, as this article will show.

MU is at $645.80, up over 12% today alone, as its options volume is soaring, as CNBC reports. I discussed Micron's upside potential in a Barchart article on April 14. Since then, analysts have hiked their price targets again.