Dallas, Texas 08/21/2013 (Financialstrend) – Shares of Micron Technology, Inc. (NASDAQ:MU) had recently been presenting bearish trend in prices and the stock had lost around 7.82% in the past one week of trading. The traders in the options of this stock had recently been betting on the bearish movement of the prices as a result of which the put options on the stock had traded at higher volumes compared to the call options. Majority of the put options that had been traded include the September 12 strike for a premium of around $0.73. The investors are thus betting that the stock would decline to lower level of prices to around $11.27 per share by the expiry date of September 12, 2013.
Further, the option traders had also been trading on the put options expiring in January 2014 for a strike price of $13 per share. All such trades prove to further ascertain that the bearish trend in prices of Micron Technology, Inc. (NASDAQ:MU) would continue in the near future to present significant losses to the shareholders. Investors may move on to make effective decisions to avoid such losses at the right time.
The stock of Micron Technology, Inc. (NASDAQ:MU) had been presenting neither surge nor dip on Tuesday and had further closed the day at $13.80 per share. It was observed that the stock had been trading on 24.38 million shares on the day, while the stock’s average trading volume remains at 44.81 million shares per day. The stock had moved on Tuesday to present intraday prices in the range of $13.65 to $13.91 per share. The stock had presently reported one year bottom is at $5.16 and one year peak at $15.07 per share. There are currently 1.03 billion shares of the company that are being traded out in the markets with the institutional ownership at 95%.