Bullish options flow on Micron as traders pile into $600 calls

Repeated January 2027 call purchases, including one with $12.5 million in premium, follow a bruising selloff in the memory chipmaker Someone just put $12.5 million on Micron bouncing back. That is the premium on a single block of January 2027 $600 call options, bought at the ask. It was not a one-off. Investors bought the same contract in repeated clusters, which suggests conviction rather than a stray trade. The timing matters: Micron’s stock has spent the past few months getting pummeled. What the options flow shows The contracts in question are calls expiring January 15, 2027, with a $600 strike price. A call gives the buyer the right, but not the obligation, to purchase shares at that strike before expiration. The $12.5 million premium on one transaction is the headline number. It was paid “at the ask,” meaning the buyer accepted the seller’s asking price instead of haggling toward the middle. Open interest in the $600 call contract now exceeds 5,000. Open interest counts contracts that remain outstanding, so it measures how much money is still parked in the bet rather than traded in and out. The broader picture of unusual options activity on MU has been described as mixed but ...