Options Market Statistics: Chipmaker Micron's Shares Surge and Options Pop as AI Boom Drives Strong Forecast
News Highlights
$Micron Technology(MU.US$ shares rose by 2.39%, closing at $96.25. Its options trading volume was 0.42 million. Call contracts account for 68.2% of the total trading volume. The most traded calls are contracts of $110 strike price that expire on Mar 22nd. The total volume reaches 17,613 with an open interest of 13,498. The most traded puts are contracts of a $88 strike price that expires on Mar 22nd; the volume is 7,027 contracts with an open interest of 11,136.
Memory chip maker Micron Technology tapped a surge in artificial intelligence adoption to forecast third-quarter revenue above estimates on Wednesday and post a surprise quarterly profit.
Its shares shot up more than 16% in extended trading, adding to a rise of more than 60% over the last 12 months. Micron's stock was last at about $110, and a close at that level on Thursday would be its highest ever.
The strong report and forecast underscore surging demand for high-end memory chips and other advanced semiconductors as big tech companies race to incorporate generative AI.
Micron's high bandwidth memory (HBM) chips, which are used in the development of complex AI applications, were sold out for 2024 and a majority of 2025 supply had already been allocated, CEO Sanjay Mehrotra said.
$PDD Holdings(PDD.US$ shares rose by 3.52%, closing at $132.17. Its options trading volume was 0.38 million. Call contracts account for 66.2% of the total trading volume. The most traded calls are contracts of $140 strike price that expire on Mar 22nd. The total volume reaches 23,210 with an open interest of 6,179. The most traded puts are contracts of a $130 strike price that expires on Mar 22nd; the volume is 10,592 contracts with an open interest of 1,217.
The U.S.-listed shares of PDD Holdings Inc. powered higher Wednesday, after the China-based e-commerce company and parent of the Temu marketplace reported fourth-quarter earnings that rose well above expectations, citing signs of improving consumer spending.
The stock PDD soared as much as 16.1% to an intraday high of $148.30 soon after the open, the highest price seen since Jan. 12, before pulling back to be up 2.7% in afternoon trading.
In the fourth quarter, we saw growing demand driven by encouraging consumer sentiment," said co-Chief Executive Jiazhen Zhao.
In 2024, we remain dedicated to further improving consumer experiences, enhancing technology innovations, and generating positive impacts in our communities," added co-Chief Executive Lei Chen.
Unusual Stock Options Activity
Some notable call activity is being seen in $NIO Inc(NIO.US$, which is primarily being driven by activity on the Nov. 15th call. Volume on this contract is 10,029 versus open interest of 145.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, Barron's, The Motley Fool
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