Recently, there has been a lot of unusual options activity in Micron (MU). The computer memory company recently posted positive earnings, but the semiconductor industry as a whole has been on fire to close out the year. There has been a lot call trading in MU this week, which is often associated with bullish trading patterns.

What’s more, someone bought 150,000 shares of MU while also buying 1,500 June 2020 puts at the same time. This is called a married put, where the put is used for a roughly 6-month hedge on the purchased shares. The stock purchase is clearly a bullish trade, while the puts are used for protection in case the stock price drops more than expected prior to next June.

Video Length: 00:04:57