Options Trading: Micron Technology's Smart Money Trades For September 10

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Today, Benzinga’s options scanner spotted 11 uncommon options trades for Micron Technology (NASDAQ:MU). The overall sentiment shows 36.36% of the big-money traders are bullish on the stock and 63.64%, bearish. Out of all of the special options found by our algorithm, 5 are puts, for a total amount of $583,235 and 6, calls, for a total amount of $577,762.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that the smart money is targeting a price range from $62.5 to $120.0 for Micron Technology in the over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the total open interest for Micron Technology big money options trades today is 51,495 with a total volume of 8,453.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Micron Technology’s big money trades within a strike price range of $62.5 to $120.0 over the last 30 days.

Micron Technology Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MU CALL SWEEP BEARISH 09/17/21 $75.00 $51.0K 31.6K 1.0K
MU CALL SWEEP BEARISH 12/17/21 $75.00 $163.8K 6.2K 503
MU PUT TRADE BULLISH 06/17/22 $62.50 $151.6K 818 1.1K
MU PUT TRADE BEARISH 06/17/22 $62.50 $315.0K 818 750
MU CALL SWEEP BULLISH 06/17/22 $90.00 $156.6K 4.1K 348

Where Is Micron Technology Standing Right Now?

  • With a volume of 3,487,773, the price of MU is up 3.2% over the last 24 hours at $75.2.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 18 days.

What The Experts Say On Micron Technology:

  • Morgan Stanley downgraded its action to Equal-Weight saying the stock has the potential to tumble -0.27% to a target of $75.0
  • Deutsche Bank has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $95.0.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.