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Micron Technology Whale Trade Discovered

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Those with a lot of money are taking a bearish stance micron technology Mu.

And retailers should know.

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

I don’t know if this is an institution or just wealthy individuals. But when something this big happens at 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.

This is not normal.

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

Of all the special options we have revealed, 4 are puts with a total value of $139,230 and 14 are calls with a total value of $726,013.

What is your target price?

Considering the volume and open interest of these contracts, whales appear to have set Micron Technology’s price range between $40.0 and $75.0 over the past three months.

Changes in turnover and open interest

Looking at volume and open interest is a powerful move when trading options. This data helps track the liquidity and interest rates of Micron Technology’s options for specific strike prices. Below you can observe the development of call and put volume and open interest respectively for all of Micron Technology’s whale trades within the strike price range of $40.0 to $75.0 over the past 30 days.

Volume and Open Interest of Micron Technology Options over the last 30 days

Biggest option discovered:

symbol put/call transaction type emotions EXP date strike price total transaction price open interest Volume
Mu phone trade neutral 08/19/22 $50.00 $121.7K 325 205
Mu phone trade bearish 08/19/22 $50.00 $120.0K 325 105
Mu phone trade bearish 06/21/24 $65.00 $67.5K twenty five 50
Mu put sweep strong 08/05/22 $63.00 $46.9K 2.3K 1.3K
Mu phone sweep bearish 23/01/20 $65.00 $46.6K 2.8K 324
symbol put/call transaction type emotions EXP date strike price total transaction price open interest Volume
Mu phone trade neutral 08/19/22 $50.00 $121.7K 325 205
Mu phone trade bearish 08/19/22 $50.00 $120.0K 325 105
Mu phone trade bearish 06/21/24 $65.00 $67.5K twenty five 50
Mu put sweep strong 08/05/22 $63.00 $46.9K 2.3K 1.3K
Mu phone sweep bearish 23/01/20 $65.00 $46.6K 2.8K 324

Where does Micron’s technology stand today?

  • With a volume of 9,532,898, the MU price fell -4.1% to $62.19.
  • The RSI indicator suggests that the underlying asset may be approaching overbought.
  • The next earnings will be announced in 53 days.

Options are a riskier asset compared to trading stocks, but have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling their trades in and out, following multiple indicators, and following the market closely.

If you want to stay up to date on the latest options trading from Micron Technology, Benzinga Pro offers real-time options trading alerts.