Noteworthy Friday Option Activity: ACMR, Z, MU

Zillow Group (Z) and Micron Technology (MU) are experiencing notably elevated options trading volumes today, with Z's options representing 58% and MU's 57.6% of their respective average daily stock trading volumes. This surge is particularly concentrated in long-dated call options, specifically the Z $85 August 2025 strike and the MU $120 August 2025 strike, suggesting significant bullish speculative interest or anticipation of future price appreciation for both equities.

Analysis

Zillow Group (Z) and Micron Technology (MU) are experiencing a significant surge in options market activity, indicating heightened investor interest. The options volume for Zillow represents a substantial 58% of its average daily share volume, while Micron's options volume equates to 57.6% of its daily average. This activity is not diffuse; rather, it is concentrated in specific long-dated call options. For Zillow, a notable volume of 2,157 contracts was traded for the $85 strike call expiring in August 2025. Similarly, Micron saw heavy trading of 8,224 contracts for its $120 strike call with the same August 2025 expiration. The focus on these out-of-the-money, long-dated calls suggests a directional, bullish sentiment from a segment of the market, reflecting a belief that both stocks have significant upside potential over the next year and that these specific price levels are key targets.

Key Decisions for Investors

• Investors should note the significant bullish positioning in long-dated call options for both Zillow and Micron as a potential indicator of strong positive sentiment or anticipation of future catalysts.