tech
Micron's monster post-earnings rally is almost gone. Traders divided on where it goes next
The maker of memory chips slid to start the week, marking an about-face from its post-earnings surge.
TL;DR
- Micron Technology's stock has dropped 18% from its 52-week high, nearly erasing its post-earnings rally.
- Options trading in Micron shows a split, with more call premium traded but likely more calls sold than bought.
- Seagate Technology and Western Digital shares rose significantly, driven by a bullish initiation from Melius Research.
- The VanEck Semiconductor ETF (SMH) experienced bearish flows, with put volume significantly outpacing calls.
- The Roundhill Memory ETF (DRAM) showed bullish activity with more calls bought than puts, though euphoria may be diminishing.