Micron Technology, Inc. MU is expected to report financial results for its fiscal fourth quarter, after the closing bell on Sept. 27, 2023.
On CNBC’s “Options Action,” Mike Khouw of Optimize Advisors said Micron traded 1.5x its average daily call volume on Tuesday.
The options market is implying a move of around 6% by the end of the week, which is in line with the historical average.
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There was a buyer of 5,500 of the October 71-calls at an average price of $1.94 per contract, Khouw mentioned.
Traders are expecting that Micron’s stock could surge following the release of earnings.
Analysts expect Micron to post a quarterly loss at $1.18 per share on revenue of $3.91 billion after the closing bell.
Price Action: Micron shares fell 0.9% to close at $67.94 on Tuesday, but added 0.6% in today’s premarket trading session.
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Image and article originally from www.benzinga.com. Read the original article here.