A whale bets on Micron's decline by purchasing $21.2 million in put options.

Odaily reported that analyst Rocky posted on X, stating that a whale has just placed a $21.2 million bet on Micron's downside. The contract is for MU $900 put options, expiring on June 26, 2026, with a premium of $21.23 million, trading volume of 7,311, open interest of 3,909, and an out-of-the-money rate of 13%.

Notably, over 84% of the trading volume hit the ask price, indicating active buying of put options; this position exceeds the existing open interest, signifying a new bearish bet; the premium continued to rise throughout the trading session and closed near its peak; this is one of the largest semiconductor put option trades in the market today.