Benzinga | Jan 18, 2022 12:06PM EST

Micron Technology Whale Trades For January 18

Someone with a lot of money to spend has taken a bearish stance on Micron Technology (NASDAQ:MU).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with MU, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $97,312, and 8 are calls, for a total amount of $855,275.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $100.0 for Micron Technology over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Micron Technology's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Micron Technology's whale trades within a strike price range from $70.0 to $100.0 in the last 30 days.

Micron Technology Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestMU CALL SWEEP BEARISH 04/14/ $90.00 $371.0K 5.3K 392 22MU CALL TRADE BEARISH 04/14/ $90.00 $205.0K 5.3K 593 22MU PUT SWEEP BEARISH 02/18/ $85.00 $70.4K 6.0K 592 22MU CALL SWEEP NEUTRAL 04/14/ $97.50 $70.4K 554 111 22MU CALL SWEEP NEUTRAL 04/14/ $90.00 $66.6K 5.3K 751 22

Where Is Micron Technology Standing Right Now?

* With a volume of 8,423,650, the price of MU is down -2.83% at $94.6.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 71 days.

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.