Someone Bet 28 Million Against Micron While Another Loaded Up on Microsoft

A tale of two heavyweights on the options tape. Someone put about 28 million dollars of puts into Micron, with 92% of it in January strikes right around the money, even though Micron just posted its best quarter ever, revenue up 380% and an 87% gross margin, still trading around six times forward earnings. The tell is the price behavior: a blowout quarter and the stock went nowhere, and that is exactly when the big bearish flow showed up. 📊 tastylive: https://www.tastylive.com/ 📰 Get Tom's pre-market analysis every morning: https://www.tastylive.com/newsletters 📘 FREE Options Strategy Guide: https://tinyurl.com/bp9ms763 📱 Follow tastylive on X: https://x.com/tastyliveshow Chapters 00:00 28 million against Micron, calls on Microsoft 00:15 The two heavyweights 00:45 92% of the puts in January 01:43 A record quarter, no reward 02:18 The broader memory tape 02:50 Hedge, or outright short 03:25 The bear case building 04:02 Flipping to Microsoft 04:48 The call that needs a new record 05:35 Cheap vol and real momentum 07:20 It all comes down to expectations #tastylive #signalvsnoise #micron #microsoft #optionsflow #putbuying #callbuying #memorychips #optionstrading #stockmarket tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we'll help you take your trading to the next level, whether you are new to trading or a seasoned veteran. tastylive content is created, produced, and provided solely by tastylive, Inc. ("tastylive") and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/. Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims, including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer.