Micron Technology Whale Trading Spotted

Micron Technology Whale Trading Spotted

Someone with a lot of money took a bearish position Micron technology IN.

And retailers should know.

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

We don’t know if it’s an institution or just a rich person. But when something this big happens with 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 found 18 unusual options for 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 special options we have uncovered, 4 are puts for a total of $139,230 and 14 are calls for a total of $726,013.

What is a target price?

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

Development of scope and open interests

Looking at volume and open interest is a powerful step in options trading. This data can help track liquidity and interest in Micron Technology options at a given strike price. Below, we can observe the movement of all Micron Technology whale trades in volume and open interest over the past 30 days, from $40.0 to $75.0, respectively.

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

Top Picks Spotted:

Symbol PAD/CALL Trade type Sentiment Exp. Date Strike price Total trade price Open interest Scope
IN CALL TRADE NEUTRAL 08/19/22 $50.00 121.7 thousand USD 325 205
IN CALL TRADE BEAR 08/19/22 $50.00 120.0 thousand USD 325 105
IN CALL TRADE BEAR 06/21/24 $65.00 67.5 thousand USD 25 50
IN PUT SWEEPING BULL 08/05/22 $63.00 46.9 thousand USD 2.3 thousand 1.3 thousand
IN CALL SWEEPING BEAR 01/20/23 $65.00 46.6 thousand USD 2.8 thousand 324
Symbol PAD/CALL Trade type Sentiment Exp. Date Strike price Total trade price Open interest Scope
IN CALL TRADE NEUTRAL 08/19/22 $50.00 121.7 thousand USD 325 205
IN CALL TRADE BEAR 08/19/22 $50.00 120.0 thousand USD 325 105
IN CALL TRADE BEAR 06/21/24 $65.00 67.5 thousand USD 25 50
IN PUT SWEEPING BULL 08/05/22 $63.00 46.9 thousand USD 2.3 thousand 1.3 thousand
IN CALL SWEEPING BEAR 01/20/23 $65.00 46.6 thousand USD 2.8 thousand 324

Where is Micron technology now?

  • On volume of 9,532,898 units, MU fell -4.1% to $62.19.
  • RSI indicators indicate that major stocks may be approaching overbought.
  • The next earnings release is expected in 53 days.

Options are a riskier asset compared to stock trading, but they have higher profit potential. Serious options traders manage this risk by learning daily, increasing and exiting trades, following more than one indicator, and closely monitoring the markets.

If you want to stay informed about the latest Micron Technology options trades, Benzinga Pro provides real-time option alerts.

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