Micron Technology Inc (MU) $7.44 +4.07%
Micron Technology (MU) gains 27 cents to $7.42 and is one of the best gainers in the chip sector Wednesday. Meanwhile, trading in Micron options is brisk today, with 55K calls and 11K puts traded so far. The top trade is a block of 6085 Apr 10 calls at the 43-cent asking price, which appears to be a buyer opening a new position. Another noteworthy trade is an Oct 6 – 7 – 8 iron butterfly, 2000X. Looks like the strategist collected 79 cents for the Oct 7 straddle (body) and paid 23 cents for the Oct 6 – 8 strangle (wings), possibly a bet that shares will drift back towards $7 over the next two and a half weeks.
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.
