NOTE: The options trade recommended in this blog is risky. You could lose all of your money. Only invest a small amount of money if you decided to take the trade.
Chip maker Micron (MU) is set to report FY231Q earnings after the close Wednesday. In its last quarterly report MU guided this quarter’s revenue to $4.250 billion and EPS to 4 cents. Those represent 45% and 98% declines from a year ago, respectively. It’s going to be a bad quarter but if MU can beat that low bar I think the stock could pop. I like the MU $54 Dec232022 Calls which can currently be had for 45 cents.