A whale is betting against Micron, buying $21.2 million in put options

Analyst Rocky posted on platform X, stating that a whale has just established a $21.2 million bet against Micron. The contract is for MU $900 put options, expiring on June 26, 2026, with a premium of $21.23 million, trading volume of 7,311, open interest of 3,909, and an out-of-the-money percentage of 13%.

It is noteworthy that over 84% of the trading volume was executed at the ask price, indicating relatively aggressive buying of put options; the size of this position exceeds the existing open interest, suggesting it is a new bearish bet; the premium continued to rise throughout the trading session, closing near its highs; this is one of the largest semiconductor options trades in the market today.