Micron Earnings Expected After Market Close, Options Traders Position Bullishly
Traders are preparing for Micron Technology's earnings report due after the market close. Options data indicates a bullish outlook with more call options traded than puts and significant open interest in calls at higher strike prices like $1,200. Market makers anticipate a potential move of around 7% following the release, slightly below its average quarterly volatility but still signaling expectations for strong performance. Analysts note that current positioning suggests traders are less bearish compared to previous earnings cycles and have protective put positions in place should results fall short. Despite this optimism, concerns about rising bond yields and interest rates could pose a risk to broader market sentiment, including the AI sector where Micron plays an important role.
Tickers: $MU
Topics: AI market sentiment Micron earnings options trading activity