A whale bets on Micron's decline by purchasing $21.2 million in put options.
Odaily reported that analyst Rocky posted on X, stating that a whale has just placed a $21.2 million bet on Micron's downside. The contract is for MU $900 put options, expiring on June 26, 2026, with a premium of $21.23 million, trading volume of 7,311, open interest of 3,909, and an out-of-the-money rate of 13%.
Notably, over 84% of the trading volume hit the ask price, indicating active buying of put options; this position exceeds the existing open interest, signifying a new bearish bet; the premium continued to rise throughout the trading session and closed near its peak; this is one of the largest semiconductor put option trades in the market today.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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