Where do options traders see Micron in a month?

Seeking Alpha ·

Micron Technology ( MU ) closed at $1,048.51 Wednesday before a blowout earnings report sent the stock surging more than 17% in premarket trading above $1,230. The July 24 options chain shows a month of considered positioning for bulls, the aggressive bets and

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Micron Technology ( MU ) jumped more than 17% in premarket trading after an earnings surprise, rising above $1,230 from yesterday's close of $1,048.51. The July 24 options chain shows concentrated bullish positioning over the next month, with aggressive call buying and bets skewed toward specific strikes. The rally reinforces expectations of DRAM and NAND price recovery and improving data-center demand, which is a positive signal for the Semiconductors sector; however, rising implied volatility (IV) and the options positioning introduce a risk of heightened short-term volatility. Investors should closely monitor the sustainability of the results, inventory and price-cycle developments, and options expiration risks.

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