Replies to post #3273 on Micron Technology (MU)

[Artillery0842]

I'm more of a downward looking guy, because I've seen nothing but red doing this, but you actually seem to know your stuff. I have LOTS of respect for all the data you are providing here. Thank you.

[JLS]

Everyone out of MU by now, right?

That means you are sitting on a pile of cash and it's time to start selling those MU weekly Puts and making money.

You choose -- sell something in the range of this week's 35 to 36. Being Wednesday, this trade lasts less than 3 days. If you get assigned, sell Calls against those shares on Monday. If not assigned, sell weekly Puts again on Monday. You could make some serious change in less than 8 trading days simply by selling Puts.

Wash, rinse, repeat until MU stabilizes then go Long because MU is already oversold.

There is a tiny bit of support (red dashed line) in late September of 2017 (which was triggered by very significant resistance during several months in late 2014). For more recent and significant support look at Jun-Jul 2017 (which also links back to 2014).