Micron Technology closed at USD 1,015.80, rising 3.92% from the previous close.
Options activity was highlighted by a single large trade: a sale of 3,750 put contracts at the 980 strike expiring on September 21, 2026, worth USD 810,000.00. This out-of-the-money put sale stood out as the dominant block order and set a bullish-to-rangebound tone for the session, with traders more focused on collecting premium than on protecting against a sharp decline.
>>>Start OPTIONS trading & earn up to SGD 200 in rewards!
Options Indicators
MU’s implied volatility stands at 62.55%, while the IV percentile is just 12.75%, which indicates volatility is on the low side relative to its own recent history and that options are currently priced cheaply rather than expensively. With an IV/HV ratio of 1.24, implied volatility is still running modestly above realized volatility, suggesting the options market is pricing in somewhat more movement ahead than the stock has recently delivered, but overall current option pricing remains in the relatively inexpensive zone. The Call/Put volume ratio is 1.45.
Large Trades
A PUT sale worth USD 810,000.00 was the standout large trade, with 3,750 contracts sold at the 980.0 strike expiring on 2026-09-21. With MU referenced at 1015.8, this put was out of the money at the time of execution, making it a moderately bullish income-oriented position. The seller is effectively expressing confidence that the stock can stay above 980.0 into expiration, allowing premium to decay, while also signaling a willingness to accumulate shares at a lower effective entry point if assigned.
Overall, the large-trade flow leans clearly bullish. The biggest order was an out-of-the-money put sale, and the broader bulk-order mix also shows bullish premium-selling activity outweighing the smaller bearish put buying, which suggests traders were more focused on harvesting premium and positioning for stability to upside rather than preparing for a meaningful downside break. Taken together, the block activity points to constructive sentiment on MU, with the market’s larger players appearing comfortable selling downside exposure and expressing a bullish-to-rangebound outlook.
Strategy Reference
For a low assignment probability, a seller could consider the 900.0 strike in the same 2026-09-21 expiration, which sits further below key support; alternatively, a bull put spread such as selling the 980.0 put and buying the 900.0 put would cap margin while retaining a bullish income focus.
Comments