The nearly 19% drop today in shares of Micron (MU) is staggering. Especially for a stock that came into the trading session down 30% from its 52 week highs, and is now down 45% on the …
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Here is some generally directional, untied options activity that caught my eye during Thursday’s trading: 1. MU – in front of today’s fiscal Q3 earnings options volume was more than 2x average daily volume with …
Continue readingEvent: Micron (MU) reports their fiscal Q3 results tonight after the close. The options market is implying a 6.25% one day move. With the stock at $24 the June 26th (tomorrow expiration) 24 straddle (the …
Continue readingWe have had our eye on MU in 2015. I last looked at it in mid May when the stock was $26.60 (read below). Despite some $50 billion in semiconductor m&a, and the Philadelphia Semiconductor …
Continue readingHere is a quick recap of trades that we initiated, closed, or debated in the week that was May 11th to May 15th:
Continue readingLast night on CNBC’s Fast Money we had a brief discussion about semiconductor stocks on the heels of Qualcomm’s (QCOM) $10 billion bond deal to fund its previously announced buyback. The feelings of the panelists were …
Continue readingWe have made a couple bearish trades in the semiconductor space in the last couple months, MU (here) and INTC (here). The main reason for the bearish stance has been the waning momentum in a group that …
Continue readingHere is some generally directional, untied options activity that caught my eye during Wednesday’s trading: 1. USO – the etf that tracks the price of wti crude saw continued put buying on a day that saw a …
Continue readingBack in mid February, when shares of Micron (MU) were trading $31.75 we made a defined risk bearish trade (New Trade – $MU Shu Put) largely predicated on what we felt was a rotation out …
Continue readingAlmost a month ago we made a bearish trade in Micron (MU) expressing the view that the stock’s under-performance vs its peers was troubling for a prior market leader in the face of new highs in …
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