Micron Technology Unusual Options Activity For July 28
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Micron Technology (NASDAQ:MU) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 40% bullish and 60% bearish. The whales have been targeting a price range from $45.0 to $90.0 for Micron Technology over the last 3 months. The current price of MU is down -0.4% at $70.78. Several financial institutions have maintained their ratings on Micron Technology with price targets ranging from $75 to $80.
July 28, 2023 | 6:01 pm
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Unusual options activity indicates a significant bearish stance on Micron Technology. The sentiment among big-money traders is split between 40% bullish and 60% bearish. The current price of MU is down -0.4% at $70.78.
The unusual options activity and the bearish sentiment among big-money traders indicate a potential downward movement in the price of Micron Technology's stock. This is further supported by the current price decrease of -0.4%. However, several financial institutions have maintained their ratings on Micron Technology with price targets ranging from $75 to $80, which could potentially limit the downward movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100