Micron Technology Inc. The stock traded lower by 2% on Monday.
More than 180,000 puts traded in the VanEck Semiconductor ETF by midday, compared with about 50,000 calls. Micron also saw significant bearish activity.
A group of trades involving puts with strike prices between $2,250 and $2,500 appeared to form part of a bearish spread. “Spreads have difficulty being categorized by midpoint analysis as well, because dealers are willing to take a haircut on one leg while getting a better premium with the other,” DeLorenzo said.
A. Three years ago, customers primarily used memory for storage.
“The more memory you put to a model, the better it works. The more memory, the faster the model works.
Longer Deals Could Reduce CyclicalityLuria expects more than half of Micron’s products to be sold through five-year agreements as Microsoft Corp. com Inc.
(NASDAQ:AMZN) and Alphabet Inc. “The product is no longer a commodity, it’s no longer sold like a commodity,” Luria said.
Buybacks Add Another CatalystLuria said Micron can resume share repurchases on Dec.
