Benzinga | Jan 4, 2022 11:31AM EST

What Are Whales Doing With Micron Technology

A whale with a lot of money to spend has taken a noticeably bearish stance on Micron Technology.

Looking at options history for Micron Technology (NASDAQ:MU) we detected 31 strange trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $571,880 and 25, calls, for a total amount of $1,698,354.

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 $40.0 to $110.0 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 $40.0 to $110.0 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 PUT TRADE BEARISH 02/18/ $90.00 $351.2K 3.3K 1.3K 22MU CALL TRADE BEARISH 01/21/ $65.00 $154.7K 1.0K 3 22MU CALL SWEEP BEARISH 01/21/ $85.00 $129.5K 17.0K 1.1K 22MU CALL SWEEP BEARISH 01/21/ $85.00 $129.5K 17.0K 1.3K 22MU CALL SWEEP BEARISH 01/21/ $85.00 $128.8K 17.0K 752 22

Where Is Micron Technology Standing Right Now?

* With a volume of 7,245,392, the price of MU is down -1.74% at $94.08.

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

* Next earnings are expected to be released in 85 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.