Micron has proven time and time again that it will fail after a run-up. I don't think this time is any different, even if they were the recipient of a couple of upgrades from Wall Street. Semiconductors are still a commodity, with margins being squeezed everyday. Stock ran up over the past 2-3 weeks due to 'potential' of X Y and Z in the 2nd half of the year. I guess the earnings on 6/23 will tell part of the story. But in the meantime, i'm betting on a pullback to at least the 23.6% Fibo at $12.32. In weekly $23 Puts for $0.41. Looking for ~$12.20ish for a 100% gain.
Comment:
Sold my weekly puts for $0.75. Entry was $0.41. Nice 82% gain. Onto the next one.