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Micron earnings hit Wall Street after the bell. Here's how options traders are positioned into the report
cnbc.com • • business
Key Points:
- President Trump held a press conference with leading AI figures, discussing the future of "super intelligence" and predicting an unprecedented economic boom driven by AI advancements.
- Investors are cautiously optimistic ahead of Micron's earnings report, with options traders pricing in a 7% move, slightly below the stock's recent average, signaling a more measured rally.
- Options activity shows bullish sentiment for Micron, with a higher volume of call purchases and a low put-to-call ratio, indicating dealer positioning favors a positive earnings outcome.
- Protective put options at strikes between $980 and $1,000 could provide downside support if Micron disappoints, while a breakout above $1,150 could lead to further gains toward $1,300.
- Rising bond yields and surging interest rates pose a risk to the broader market and could potentially impact the AI sector and Micron's stock performance despite current optimism.
