Ahead Of Earnings, Micron Sees Spike In Options Trading: Traders Anticipate Price Surge
Portfolio Pulse from Lisa Levin
Micron Technology, Inc. (NASDAQ:MU) is set to release its quarterly results on June 28, 2023. Ahead of this, options markets are implying a move of around +/-6% following the earnings release. There has been a spike in options trading, with Micron trading at 1.7x its average daily call volume. Traders are expecting Micron's shares to surge more than 10% by July expiration. Analysts, however, expect Micron to post a quarterly loss at $1.57 per share on revenue of $3.67 billion.
June 28, 2023 | 12:24 pm
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Micron Technology, Inc. is expected to see a surge in its share price by more than 10% by July, according to traders. However, analysts predict a quarterly loss at $1.57 per share on revenue of $3.67 billion.
The surge in options trading and the expectation of a price surge by traders indicates a positive sentiment towards Micron's stock. However, the analysts' prediction of a quarterly loss could potentially dampen this positive sentiment. The actual impact will depend on the actual earnings results and the market's reaction to it.
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