Micron Technology Whale Trades Spotted

Micron Technology Whale Trades Spotted

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

And retailers should know.

We noticed this today when the large position appeared in the publicly available options history we track here at Benzinga.

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

So how do we know what this whale just did?

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

It is not normal.

The overall sentiment among these big money traders is split between 38% bullish and 61% bearish.

Of all the special options we uncovered, 4 were puts, for a total of $139,230, and 14 were calls, for a total of $726,013.

What is the target price?

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

Volume development and open interest

Looking at volume and open interest is a powerful move in options trading. This data can help you track the liquidity and interest in Micron Technology options for a given strike price. Below we can observe the development of call and put volume and open interest, respectively, for all Micron Technology putty trades within a strike price range of $40.0 to $75.0 over the past 30 days.

Micron Technology Option Volume and Open Interest over the past 30 days

Biggest Options Spotted:

Symbol PUT/CALL Trade type moods Exp. Date Strike Price Total trade price Open interest Sound volume
IN CALL TRADE NEUTRAL 19.08.22 $50.00 121.7 thousand dollars 325 205
IN CALL TRADE BEARS 19.08.22 $50.00 $120.0K 325 105
IN CALL TRADE BEARS 21.06.24 $65.00 67.5 thousand dollars 25 50
IN I PUT SWEEP WHIP 08/05/22 $63.00 46.9 thousand dollars 2.3K 1.3K
IN CALL SWEEP BEARS 20.01.23 $65.00 $46.6K 2.8K 324
Symbol PUT/CALL Trade type moods Exp. Date Strike Price Total trade price Open interest Sound volume
IN CALL TRADE NEUTRAL 19.08.22 $50.00 121.7 thousand dollars 325 205
IN CALL TRADE BEARS 19.08.22 $50.00 $120.0K 325 105
IN CALL TRADE BEARS 21.06.24 $65.00 67.5 thousand dollars 25 50
IN I PUT SWEEP WHIP 08/05/22 $63.00 46.9 thousand dollars 2.3K 1.3K
IN CALL SWEEP BEARS 20.01.23 $65.00 $46.6K 2.8K 324

Where is Micron technology right now?

  • With volume of 9,532,898, MU price was down -4.1% to $62.19.
  • RSI indicators suggest that major stocks may be approaching overbought.
  • The next earnings are expected to be published in 53 days.

Options are a riskier asset than just trading stocks, but have a higher potential for profit. Serious options traders manage this risk by learning daily, expanding and exiting trades, following more than one indicator, and watching the markets closely.

If you want to stay up to date with the latest options trades for Micron Technology, Benzinga Pro gives you real-time option trade alerts.

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