Is Micron Technology, Inc. (MU) Headed Even Lower?

Micron Technology, Inc. (MU) bears foresee a move south of $26

Digital Content Group
Mar 23, 2015 at 10:30 AM
facebook X logo linkedin


Micron Technology, Inc. (NASDAQ:MU) is sitting 0.8% lower this morning at $28.44, bringing its year-to-date deficit close to 19%. Options traders are responding, too, with puts crossing the tape at double the usual intraday rate.

One of MU's most active options is the April 26 put, where it seems buy-to-open activity is transpiring. By initiating these out-of-the-money positions, traders are expressing confidence the stock will breach $26 by the close on Friday, April 17, when the newly front-month series expires.

On the charts, however, MU hasn't traded below $26 in almost a year. As such, delta on the put sits at negative 0.20, signifying a slim 1-in-5 chance the option will be in the money at expiration.

Today's accelerated put activity is business as usual for Micron Technology, Inc. (NASDAQ:MU). The stock's 10-day put/call volume ratio across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 0.52, which ranks in the 84th percentile of its annual range.

Daily Chart of MU since March 2014

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI