Decoding Micron Technology's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Recent options activity for Micron Technology (NASDAQ:MU) indicates a bearish sentiment among deep-pocketed investors, with a notable division in sentiment: 38% bullish and 61% bearish. The activity highlighted by Benzinga's options scanner includes 36 extraordinary activities, with puts and calls targeting a price range of $80.0 to $160.0. Current trading volume is 9,494,208, with MU's price down by -2.82%, positioned at $108.77. The RSI indicates a neutral position, and earnings are expected in 68 days.
April 19, 2024 | 3:17 pm
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Deep-pocketed investors show a bearish sentiment towards Micron Technology, with a significant portion of options activity indicating a price target range of $80 to $160. The stock is currently down by -2.82%, with a neutral RSI indicator and earnings expected in 68 days.
The bearish sentiment among investors, highlighted by the options activity, suggests a potential downside risk for MU's stock price in the short term. The current price decline and neutral RSI further support this outlook. However, the upcoming earnings announcement could introduce volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100