Investors with a lot of money to spend have taken a bearish stance on Micron Technology (NASDAQ:MU).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MU, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 331 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 42%, bearish.

Out of all of the special options we uncovered, 120 are puts, for a total amount of $22,855,773, and 211 are calls, for a total amount of $18,938,320.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $910.0 for Micron Technology, spanning the last three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Micron Technology's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Micron Technology's whale activity within a strike price range from $25.0 to $910.0 in the last 30 days.

Micron Technology Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
MU	CALL	SWEEP	NEUTRAL	03/20/26	$18.2	$17.7	$17.8	$430.00	$420.1K	15.7K	1.2K
MU	PUT	TRADE	BULLISH	04/02/26	$27.2	$26.1	$26.4	$400.00	$396.0K	824	264
MU	CALL	SWEEP	BEARISH	04/24/26	$45.1	$43.35	$44.11	$410.00	$310.5K	70	133
MU	PUT	TRADE	BULLISH	06/18/26	$36.25	$34.55	$35.05	$360.00	$175.2K	617	63
MU	CALL	TRADE	BULLISH	03/13/26	$7.7	$7.55	$7.7	$420.00	$107.8K	4.7K	13.1K

About Micron Technology

Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips. Its primary revenue stream comes from dynamic random access memory, or DRAM, and it also has minority exposure to not-and or NAND, flash chips. Micron serves a global customer base, selling chips into data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.

Having examined the options trading patterns of Micron Technology, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Micron Technology

• With a trading volume of 20,567,767, the price of MU is up by 5.6%, reaching $411.13.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 8 days from now.

What Analysts Are Saying About Micron Technology

5 market experts have recently issued ratings for this stock, with a consensus target price of $486.0.

• An analyst from UBS has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $475.
• Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Micron Technology with a target price of $550.
• An analyst from Susquehanna has decided to maintain their Positive rating on Micron Technology, which currently sits at a price target of $525.
• An analyst from Needham has decided to maintain their Buy rating on Micron Technology, which currently sits at a price target of $450.
• Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Micron Technology, targeting a price of $430.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.