Check out what whales are doing with Micron technology

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

And retail traders should know this.

We noticed this today when the 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 wealthy individual. 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 spotted 11 unusual options trades for Micron Technology.

This is not normal.

The overall sentiment among these big money traders is split between 18% bullish and 81% bearish.

Of all the special options we uncovered, 7 are puts, totaling $401,693, and 4 are calls, totaling $298,021.

What is the target price?

Given the volume and open interest in these contracts, it appears that the whales have been targeting a price range between $55.0 and $85.0 for Micron Technology over the past 3 months.

Volume and development of open interest

Looking at volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest of Micron Technology options for a given strike price.

Below we can see the evolution of call and put volume and open interest, respectively, for all of Micron Technology’s whale activity within a strike price range of 55.0 to 85, $0 in the last 30 days.

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

Largest options detected:

symbol PUT/SHUT UP Type of trade feeling Ex. date Bargain price Total commercial price Open interest volume
EN TO PUT to sweep BASS PLAYER 20/01/23 $62.50 182.1 thousand dollars 10.7 000 350
EN NAMED to sweep bullish 03/17/23 $65.00 121,000 USD 685 0
EN TO PUT to sweep BASS PLAYER 20/01/23 $62.50 72.8 thousand dollars 10.7 000 100
EN NAMED TRADE BASS PLAYER 08/19/22 $60.00 66,000 USD 12.9 000 1.0000
EN NAMED to sweep BASS PLAYER 08/19/22 $60.00 62.8 thousand dollars 12.9 000 539
symbol PUT/SHUT UP Type of trade feeling Ex. date Bargain price Total commercial price Open interest volume
EN TO PUT to sweep BASS PLAYER 20/01/23 $62.50 182.1 thousand dollars 10.7 000 350
EN NAMED to sweep bullish 03/17/23 $65.00 121,000 USD 685 0
EN TO PUT to sweep BASS PLAYER 20/01/23 $62.50 72.8 thousand dollars 10.7 000 100
EN NAMED TRADE BASS PLAYER 08/19/22 $60.00 66,000 USD 12.9 000 1.0000
EN NAMED to sweep BASS PLAYER 08/19/22 $60.00 62.8 thousand dollars 12.9 000 539

Where is Micron Technology right now?

  • With a volume of 3,063,745, MU price is down -2.92% to $61.14.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • The next earnings are expected to be released in 39 days.

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

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

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