Unusual Options Activity: $7.7M Bet on MU $990 Puts Expiring Oct 12
7,237 contracts traded vs. 967 open interest, about $7.7M in premium.
Traders bought or sold 7,237 MU $990 put contracts expiring Oct 12, about $7.7M in premium, against just 967 contracts of existing open interest (7.5× volume to open interest). That makes it one of the largest unusual options trades in the market in the latest session.
The strike is out of the money with MU at $1,029.00 (-0.7% on the day). Volume above open interest means new positions are being opened, which is why options traders watch these prints closely. Puts gain if the stock falls below the strike before expiration, though big prints can also be hedges.
Other unusual MU contracts
| Contract | Volume | Open int. | Premium |
|---|---|---|---|
| $990 Put · Oct 12 | 7,237 | 967 | $7.7M |
| $985 Put · Oct 12 | 6,349 | 651 | $4.7M |
| $980 Put · Oct 12 | 8,310 | 852 | $4.1M |
| $995 Put · Oct 12 | 1,704 | 1,152 | $2.4M |
| $990 Call · Oct 12 | 5,219 | 99 | $2.0M |
| $985 Call · Oct 12 | 3,439 | 46 | $2.0M |
Source: Nasdaq option chains (end-of-day volume and open interest), scanned by GTA Options Flow across the 160 most active U.S. stocks.
Written by the GTA Research Desk from GTA Terminal data. Not investment advice.
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