- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Big Stock Upside for Hudson City Deal: Analyst
- 5 High-Yield Stocks Ready to Boost Dividends
- Option Bulls Take Another Shot on Idenix
- Top 20 European Stocks for Crisis Time: Strategist
- Hewlett-Packard Faces a ‘Dogfight’ for Talent: Analyst
- DuckDuckGo Cooks Google’s Goose: Analyst
- General Electric’s $4.5 Billion Dividend Slated for Buybacks
ABOUT THE CNBC STOCK BLOG
ART CASHIN
RSS FEED
CNBC Stock Blog
Text Size 
Chip Maker Options Spike as Shares Rally
Options activity spiked early Tuesday for Micron Technology, which has been rallying in the face of a dismal outlook in the chip industry.
This morning, right out of the gate, the MU March 4 calls lit up OptionMonster's tracking systems, as buyers jumped in to snap up more than the open interest in one quick trade of 2,500 contracts. These calls are trading for $0.35 and worth watching for any continued interest.
Micron stock [MU
Loading...
()
] was under $2 in December and is now pushing $4, trading above its 50- and 100-day moving averages. That's still less than half of its 52-week high, which was just under $9 last summer.
This space is filled with cannibalism and fierce competition, but inventories are finally contracting a bit as the industry is shrinking.
______________________________
Chip Makers & Equippers:
Intel [INTC
Loading...
()
]
Advanced Micro Devices [AMD
Loading...
()
]
Lam Research [LRCX
Loading...
()
]
Applied Materials [AMAT
Loading...
()
]
______________________________
Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of OptionMonster.com.
______________________________
Data is a real-time snapshot *Data is delayed at least 15 minutes
