Micron Technology Whale Trades Spotted

Micron Technology Whale Trades Spotted

Someone with a lot of money to spend has taken a bearish stance Micron technology IN.

And retailers should know.

We noticed this today when the big position in the history of publicly available options that we are tracking here at Benzinga came up.

Whether this is an institution or just a wealthy person, we don’t know. But when something this big happens to MU, it often means someone knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga’s options scanner uncovered 18 unusual options trades for Micron Technology.

That’s not normal.

The overall sentiment of these big money traders is 38% bullish and 61% bearish.

Of all the special options we uncovered, 4 are puts totaling $139,230 and 14 are calls totaling $726,013.

What is the course objective?

Considering the volume and open interest in these contracts, it appears that the whales have been targeting a price range of $40.0 to $75.0 for Micron Technology over the past 3 months.

Volume and open interest development

Looking at volume and open interest is a powerful move when trading options. This data can help you track liquidity and interest in Micron Technology’s options at a given strike price. Below we can observe the evolution of volume and open interest of calls/puts for all Micron Technology Whale trades within a strike price range of $40.0 – $75.0 over the last 30 days.

Micron Technology option volume and open interest over the last 30 days

Biggest options discovered:

symbol PUT/CALL commercial type feeling Ext. date exercise price total commercial price open interest volume
IN CALL ACT NEUTRAL 08/19/22 $50.00 $121,700 325 205
IN CALL ACT BEARY 08/19/22 $50.00 $120,000 325 105
IN CALL ACT BEARY 06/21/24 $65.00 $67,500 25 50
IN PLACE SWEEP BULLISH 8/5/22 $63.00 $46,900 2.3K 1.3K
IN CALL SWEEP BEARY 01/20/23 $65.00 $46,600 2.8K 324
symbol PUT/CALL commercial type feeling Ext. date exercise price total commercial price open interest volume
IN CALL ACT NEUTRAL 08/19/22 $50.00 $121,700 325 205
IN CALL ACT BEARY 08/19/22 $50.00 $120,000 325 105
IN CALL ACT BEARY 06/21/24 $65.00 $67,500 25 50
IN PLACE SWEEP BULLISH 8/5/22 $63.00 $46,900 2.3K 1.3K
IN CALL SWEEP BEARY 01/20/23 $65.00 $46,600 2.8K 324

Where does Micron technology currently stand?

  • With a volume of 9,532,898, the price of MU is down -4.1% to $62.19.
  • RSI indicators are suggesting that the underlying stock may be overbought.
  • The next earnings are expected to be released in 53 days.

Options are a riskier asset compared to just stock trading, but they have higher profit potential. Reputable options traders manage this risk by educating themselves daily, entering and exiting trades, following more than one indicator, and following the markets closely.

If you want to stay up to date on the latest options trades for Micron Technology, Benzaga Pro gives you real-time options trading alerts.

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