Micron Technology (MU)

[JLS]

unusual option activity

Now it's my turn ;>)

December 29 strikes: 2,000 at both $46 and $49.

Those are exactly the same strikes I took a few days ago for a Bull Call Spread. The only difference is that my entry was a few days earlier, and was entered at considerably lower prices.

For instance, earlier this morning I checked the status of my trade and calculated the current profit if I closed the trade at current median prices (middle of bid and ask) and found that the trade was already up a little over 100%.

But I have no intention of closing it anytime soon. I set up the trade to take advantage of a good earnings report scheduled for Dec 19. I could have used the Dec 22 strikes but I wanted more than three days of market activity past expiration.