Would you like to earn 27% every 20 days?
This is the average value of Nic Chahine's option purchases. Don't sell covered calls or spreads…buy options. Most traders don't even have a 27% buy option win rate. His win rate is 83%. Here's how he does it.
Investors with large amounts of capital at their disposal are bearish on the following points: micron technology (NASDAQ:MU).
And retail traders should know.
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We noticed this today when a position appeared in the public options history we track here at Benzinga.
I don't know if these are organizations or just wealthy individuals. But for something this big to happen at MU often means someone knows something is about to happen.
Benzinga's Options Scanner found 13 options trades today. micron technology.
This is not normal.
The overall sentiment among these big money traders is split between 38% bullish and 61% bearish.
Of all the options we found, there was 1 put for a total of $28,560 and 12 calls for a total of $624,170.
Expected price target
Analyzing the volume and open interest of these contracts, it appears that major players have priced Micron Technology between $114.0 and $160.0 over the past quarter.
Insights into volume and open interest
Looking at volume and open interest is an insightful way to perform due diligence on a stock.
This data helps track the liquidity and interest rate of Micron Technology's options for a specific strike price.
Below you can observe the evolution of call and put volume and open interest, respectively, for all Micron Technology whale activity within the strike price range of $114.0 to $160.0 over the past 30 days.
Micron Technology 30-day option volume and interest rate snapshot
Significant option trade detected:
| symbol | put/call | transaction type | emotion | Experience date | listen | bid | price | strike price | Total transaction price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mu | phone | sweep | strong | 05/10/24 | $1.72 | $1.72 | $1.72 | $120.00 | $142.5,000 | 634 | 1.9K |
| Mu | phone | trade | bearish | 12/20/24 | $15.45 | $15.35 | $15.35 | $120.00 | $61.4,000 | 1.7K | 40 |
| Mu | phone | sweep | strong | 05/03/24 | $2.76 | $2.75 | $2.76 | $115.00 | 55.2 thousand dollars | 4.7K | 3.0K |
| Mu | phone | trade | bearish | 05/10/24 | $4.15 | $4.1 | $4.1 | $115.00 | $541,000 | 621 | 1.7K |
| Mu | phone | trade | bearish | 05/03/24 | $2.64 | $2.6 | $2.6 | $115.00 | 52.0 thousand dollars | 4.7K | 471 |
About Micron Technology
Micron is one of the world's largest semiconductor companies, specializing in memory and storage chips. The company's main source of revenue is dynamic random access memory (DRAM), but it also has a small investment in NAND flash chips. Micron serves a global customer base and sells chips for data centers, mobile phones, consumer electronics, industrial and automotive applications. This company is vertically integrated.
Now that we've examined Micron Technology's options trading patterns, it's time to take a look at the company directly. This change allows us to take a closer look at our current market position and performance.
Micron Technology's current market position
- Currently trading with a volume of 2,403,090, MU price has increased by 1.09% and is currently at $115.61.
- The RSI reading suggests that the stock is currently neutral between overbought and oversold.
- Financial results are expected to be announced within 57 days.
Micron Technology evaluation by professional analysts
Over the past month, 5 industry analysts have shared their insights on this stock, recommending an average price target of $146.8.
- Analysts at B of A Securities gave Micron Technology a Buy rating and kept the price target unchanged at $144.
- Citigroup analysts have maintained a Buy rating on Micron Technology, with a current price target of $150.
- Stifel analysts have decided to maintain a Buy rating on Micron Technology, with a current price target of $140.
- Keybanc analysts maintain an Overweight rating on Micron Technology and a $150 price target.
- Cantor Fitzgerald analysts have decided to maintain an Overweight rating on Micron Technology, with the current price target set at $150.
Options trading involves high risk, but also the potential for higher returns. Smart traders mitigate these risks by continuing to educate themselves, make strategic trade adjustments, utilize a variety of indicators, and stay responsive to market trends. Stay on top of the latest options trades for Micron Technology with real-time alerts from Benzinga Pro.
Would you like to earn 27% every 20 days?
This is the average value of Nic Chahine's option purchases. Don't sell covered calls or spreads…buy options. Most traders don't even have a 27% buy option win rate. His win rate is 83%. Here's how he does it.
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