Micron's Stock Poised To Fall 9% Short Term

Micron Technology Inc.'s (MU) stock has dropped by more than 20 percent from its May high of around $62.50. Now the stock appears poised to fall 9 percent further from its current price of around $50. The steep drops come ahead of fourth-quarter results on September 20. Options traders also see Micron declines. They are betting the stock will fall by about 5 percent by September 21, the day after earnings. The number of open puts outweighs the open calls at the $50 strike price.

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