TSLA
Tesla
-- 421.060 PLTR
Palantir
-- 80.550 NVDA
NVIDIA
-- 134.700 OXY
Occidental Petroleum
-- 47.130 AMD
Advanced Micro Devices
-- 119.210 
Options Market Statistics: Micron Stock Surges to Record High and Options Pop After BofA Analysts Raise Price Target
News Highlights
$Micron Technology (MU.US)$ shares rose by 5.44%, closing at $124.30. Its options trading volume was 0.51 million. Call contracts account for 68.4% of the total trading volume. The most traded calls are contracts of $120 strike price that expire on Apr. 5th. The total volume reaches 7,652 with an open interest of 10,443.
Micron Technology shares jumped to a record high during early trading on Monday after Bank of America analysts increased their price target for the stock, saying it is well-positioned to gain amid the artificial intelligence (AI) boom.
Bank of America named Micron, alongside $Marvell Technology (MRVL.US)$ and $Advanced Micro Devices (AMD.US)$, as a "junior samurAI" poised to gain after its "top picks," $NVIDIA (NVDA.US)$ and $Broadcom (AVGO.US)$.
Each 'junior samurAI' trades interestingly at a valuation premium to its respective leader, so greater stock volatility is to be expected," the analysts wrote, adding that "as the leader expands the [total addressable market], the junior can likely continue to carve a profitable niche."
As AI tech requires high-bandwidth memory (HBM), Micron has the "potential to rapidly expand high-bandwidth memory or HBM market share behind Korean peers," the analysts said.
The Bank of America analysts lifted their price objective to $144 from $120 per share and reiterated a "Buy" rating.
$Alphabet-A (GOOGL.US)$ shares rose by 3.02%, closing at $155.49. Its options trading volume was 0.35 million. Call contracts account for 63.8% of the total trading volume. The most traded calls are contracts of $152.5 strike price that expire on Apr. 5th. The total volume reaches 4,506 with an open interest of 2,543.
$Microsoft (MSFT.US)$ shares rose by 0.92%, closing at $424.57. Its options trading volume was 0.21 million. Call contracts account for 63.8% of the total trading volume. The most traded calls are contracts of $425 strike price that expire on Apr. 5th. The total volume reaches 6,078 with an open interest of 3,048. The most traded puts are contracts of a $430 strike price that expires on Jun. 21st; the volume is 7,394 contracts with an open interest of 520.
Unusual Stock Options Activity
There was a noteworthy activity in $Lyft Inc (LYFT.US)$, where multiple calls have topped volume to open interest ranking. The highest volume over open interest ratio reaches 116.1x, with option volume of nearly 50,866 and open interest of 438.
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Source: Barchart, Unusual Whales, Barron's, The Motley Fool
Disclaimer: Options trading entails significant risk and is not appropriate for all investors. Certain complex option strategy carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Option. This article is for information and illustrative purposes only, and is not a promotion of option trading or a recommendation of any of the specific option mentioned above.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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