A whale with a lot of money to spend has taken a noticeably bearish stance on Micron Technology.
Looking at options history for Micron Technology (NASDAQ:MU) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $71,548 and 8, calls, for a total amount of $312,975.
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 $67.5 to $82.5 for Micron Technology over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Micron Technology's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Micron Technology's whale activity within a strike price range from $67.5 to $82.5 in 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 | CALL | SWEEP | BULLISH | 04/08/22 | $77.00 | $65.2K | 3.6K | 1.1K |
| MU | CALL | TRADE | BEARISH | 04/14/22 | $75.00 | $47.6K | 4.3K | 141 |
| MU | CALL | SWEEP | BEARISH | 04/08/22 | $79.00 | $47.1K | 3.1K | 726 |
| MU | PUT | SWEEP | BULLISH | 06/17/22 | $67.50 | $44.7K | 4.1K | 501 |
| MU | CALL | SWEEP | BULLISH | 04/08/22 | $80.00 | $36.2K | 6.2K | 3.3K |
Where Is Micron Technology Standing Right Now?
- With a volume of 2,132,053, the price of MU is up 1.46% at $77.3.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 86 days.
What The Experts Say On Micron Technology:
- Bernstein upgraded its action to Outperform with a price target of $94
- Morgan Stanley has decided to maintain their Equal-Weight rating on Micron Technology, which currently sits at a price target of $83.
- Mizuho has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $113.
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.
