Scalp a 47% Payout by the End of This Week with Micron (MU) Call Spreads

It’s time to face reality: Micron Technology’s (MU) latest earnings report didn’t quite cut the mustard. Following the company’s fiscal third-quarter disclosure, MU stock fell slightly more than 18% as a response. Still, the ugly print is now yesterday’s news. That means there’s a possibility that in the short term, Micron’s equity can at least stabilize.

According to Barchart contributor StockStory, the memory chips manufacturer’s revenue and earnings-per-share guidance for the current quarter missed targets significantly. “The weak outlook was driven by three main factors: a slowdown in demand for data center SSDs, slower-than-anticipated inventory absorption in consumer markets such as PCs and smartphones, and an industry-wide oversupply of NAND memory.”