Micron (MU) Offering Possible 19.9% Return Over the Next 24 Calendar Days

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Micron’s most recent trend suggests a bullish bias. One trading opportunity on Micron is a Bull Put Spread using a strike $70.00 short put and a strike $65.00 long put offers a potential 19.9% return on risk over the next 24 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $70.00 by expiration. The full premium credit of $0.83 would be kept by the premium seller. The risk of $4.17 would be incurred if the stock dropped below the $65.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Micron is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Micron is bullish.

The RSI indicator is at 51.92 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

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Five months ago, stock for Advanced Micro Devices (NASDAQ: AMD) and Micron Technology (NASDAQ: MU) were following different trajectories when it came to their prices. Micron started the year on a positive note thanks to the terrific demand for memory chips, while AMD was struggling in the wake of the sell-off in tech stocks and market share gains clocked by Intel. Micron, on the other hand, has lost investor confidence due to concerns about the health of the memory market.

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