Micron Technology Inc (MU) $6.39 +6.10%
Micron Technology (MU) call options are seeing action for a second day. The chipmaker is due to report earnings after the closing bell. 21 analysts cover MU, with estimates ranging from a 53-cent to 19-cent quarterly loss. Consensus is a 36-cent loss. MU is up 44 cents to $6.44 this morning and traders are leaning on the bullish side of the trade heading into the earnings release. Volume is already running three times normal, with 38,000 calls and 11,000 puts trading on the day. A lot of the action involves call buying in the April and May contracts. Sentiment is 73 percent bullish. On Monday, Dow Jones Newswires reported that shares of many memory chip makers were moving higher after some Asian makers were beginning to push clients to pay higher prices for DRAM chips. MU is up nearly 18 percent on the week.
Category: All Stocks, Mid Cap Stocks, Semiconductors
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
