Micron Set To Report Earnings Wednesday: Options Market Implies 6% Move
Portfolio Pulse from Priya Nigam
Micron Technology, Inc. (NASDAQ:MU) is set to report its fiscal fourth quarter results on Sept. 27, 2023. The options market is implying a 6% move by the end of the week, in line with historical averages. There was a buyer of 5,500 of the October 71-calls at an average price of $1.94 per contract, indicating that traders expect Micron's stock to surge following the earnings release. Analysts expect Micron to post a quarterly loss at $1.18 per share on revenue of $3.91 billion.
September 27, 2023 | 1:48 pm
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Micron Technology is expected to report a quarterly loss, but the options market and traders are expecting a positive move in the stock following the earnings release.
The options market is implying a 6% move in Micron's stock, which is in line with historical averages. This, along with the purchase of 5,500 October 71-calls, indicates that traders are expecting a positive move in the stock following the earnings release, despite analysts expecting Micron to post a quarterly loss.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100