Micron Technology Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on Micron Technology (NASDAQ:MU), with 50% of the 79 detected unusual options trades being bearish. The total amount for puts is $2,672,086, and for calls, it's $2,583,175. Whales have targeted a price range of $37.5 to $100 for Micron Technology over the last 3 months. BMO Capital maintains an Outperform rating with an $80 price target.
May 30, 2023 | 8:16 pm
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NEGATIVE IMPACT
Micron Technology sees bearish whale activity with 50% of 79 unusual options trades being bearish. BMO Capital maintains an Outperform rating and an $80 price target.
The bearish stance taken by a whale on Micron Technology indicates a potential short-term negative impact on the stock price. The fact that 50% of the unusual options trades are bearish suggests that there is significant bearish sentiment among large investors. However, BMO Capital's Outperform rating and $80 price target provide a counterbalance to this bearish sentiment, which is why the importance is set at 80 and confidence at 90.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100