# Micron Options Traders Turn Bullish as AI Trade Faces Rate Pressure By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/25759 Published: 2026-09-30T11:50:21.000Z Updated: 2026-09-30T11:50:21.000Z Section: Investing > Markets imply a roughly 7% move after Wednesday’s earnings report, while calls made up 75% of $1.6 billion in traded options premium. Micron Technology’s options market is positioned for a bullish reaction to the company’s fiscal fourth-quarter results, even as rising interest rates and falling bond prices create a risk for the broader artificial-intelligence trade. Micron is scheduled to release its results after the U.S. market closes Wednesday, with its earnings call set for 4:30 p.m. ET (20:30 UTC). Options markets imply a roughly 7% move for the stock, below its average quarterly move of 8% over the past four reports. Trading leaned bullish Tuesday. About 61,000 calls were likely bought compared with 37,000 puts, while calls accounted for 75% of the $1.6 billion in total options premium traded. Call-selling was also prominent, mostly involving some big sellers of the 1,150-strike call. That positioning indicates some traders expect Micron to remain within the range implied by the options market. Jason DeLorenzo, owner and founder of Volland, described the positioning as “a more universally bullish dealer positioning” than during some of Micron’s previous earnings periods. He said Micron had a large amount of negative hedges that would need to be unwound, potentially moving the stock toward the level implied by the earnings straddle. Put and call open interest was roughly balanced at Monday’s close, while the put-to-call ratio was near a one-year low. Open interest in puts between the 980 and 1,000 strikes was high enough to potentially provide support if the results disappointed. About 34,000 puts were open at the 1,000 strike. The most popular call strike was 1,200. DeLorenzo said, “If 1,150 breaks, 1,300 will not be far behind.” Micron’s results will arrive as bond prices sell off and interest rates surge. Don Kaufman, cofounder of TheoTrade, said, “Even the AI [trade] could get rocked by the bond market.” The report will provide another indication of whether current memory-chip pricing and margins can continue amid AI-related demand. Micron reported $41.456 billion in fiscal third-quarter revenue, up 346% from a year earlier, and forecast about $50 billion in revenue for the coming quarter. Its gross margin was 85%, compared with 38% in the year-earlier period. The company’s [scheduled fiscal fourth-quarter earnings call]() is set for Wednesday afternoon. ## Links in this article - [scheduled fiscal fourth-quarter earnings call](https://www.tokenpost.com/news/business/25041)