Micron (MU) Offering Possible 17.92% Return Over the Next 24 Calendar Days

Micron's most recent trend suggests a bullish bias. One trading opportunity on Micron is a Bull Put Spread using a strike $31.50 short put and a strike $26.50 long put offers a potential 17.92% 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 $31.50 by expiration. The full premium credit of $0.76 would be kept by the premium seller. The risk of $4.24 would be incurred if the stock dropped below the $26.50 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 57.62 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

LATEST NEWS for Micron

10-K for Micron Technology, Inc.
Thu, 30 Oct 2014 00:08:25 GMT

[$$] Three Chip Picks to Beat a Sector Slump
Wed, 29 Oct 2014 20:19:00 GMT

Micron Technology Authorizes $1B Share Buyback Program
Tue, 28 Oct 2014 21:39:03 GMT

Twitter and Amgen are big market movers
Tue, 28 Oct 2014 20:42:49 GMT

Options Update: How to Play Micron
Tue, 28 Oct 2014 16:50:21 GMT
Bloomberg – Oct. 28 (Bloomberg) –- Recon Capital Partners Strategist Kevin Kelly discusses Twitter earnings and his options strategy for Micron with Matt Miller on “Market Makers.” (Source: Bloomberg)

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