Micron Options Price In 13% Post-Earnings Swing
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- Micron Technology (MU) options traders priced in another sharp move ahead of Wednesday's earnings report, after the stock fell about 13% on Tuesday.
- Near-the-money June 26 straddles implied a swing of roughly $139 by Friday's close — about 13% from Micron's trading level — pointing to a possible range of $920 to $1,200.
- The $1,050 and $1,060 strikes were among the most closely watched levels, with the $1,050 call carrying sizable open interest.
- Calls above the stock saw heavy volume, including the $1,100 and $1,200 strikes, while near-the-money put premiums jumped as traders paid for downside protection.
- The options tone suggested traders remained positioned for a large move in either direction this week, following the pullback.
Why it matters: With MU shares already down 13% heading into the report, options are pricing another 13% swing by Friday's close — a $139 move that could place the stock anywhere from $920 to $1,200. Heavy two-sided activity (calls at $1,100–$1,200 alongside surging put premiums) shows hedgers are bracing for disappointment while speculators still chase upside, making this one of the most binary setups in the chip sector this quarter.
