Micron closed at USD 1080.53, up 0.81 % from the previous session.

The largest displayed options trade was a $207.00 thousand short put position, with 2,160 contracts sold at the 1000.00 strike expiring on 2026-09-25. This out-of-the-money put sale dominated the flow and suggests a moderately bullish, income-oriented stance, as the trader appears willing to collect premium while expressing confidence that Micron will remain above the 1000.00 level through expiration.

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Options Indicators

Micron’s implied volatility is 67.12%, and with an IV percentile of 22.31%, current option pricing sits on the lower side of its own historical range, indicating options are relatively cheap rather than richly priced. At the same time, the IV/HV ratio of 1.33 shows implied volatility is still running above realized volatility, meaning the market is pricing in somewhat higher forward uncertainty than what has recently been observed.

The Call/Put volume ratio is 1.61.

Large Trades

A $207.00 thousand short put was the largest displayed large trade, with 2,160 contracts sold at the 1000.00 strike expiring on 2026-09-25. With Micron referenced at 1080.53, this put was out of the money at the time of the trade, making it a moderately bullish income-oriented position. Selling an out-of-the-money put typically reflects a view that the stock will remain above the strike through expiration, while also expressing willingness to accumulate shares at a lower effective entry level if assigned.

Overall, the bulk-order flow leans bullish. The clearest signal came from the sizable out-of-the-money put sale, which suggests confidence in downside support and a preference to monetize elevated option premium rather than position for a breakdown. Although there was also a bearish same-direction long put combination in the wider flow, indicating some traders were paying premium for downside movement, the dominant large-trade tone still points to a mildly constructive outlook rather than an outright bearish stance.

Strategy Reference

For sellers seeking a low assignment probability, shorter-dated out-of-the-money puts below key support or put credit spreads can still capture premium with less buying-power commitment, while longer-dated naked puts like the displayed 1000.00 strike require more patience and margin capacity.