Shares of Micron Technology (NASDAQ:MU) are rallying, last seen up 5.3% to trade at $9925.35, as investors buy back into artificial-intelligence (AI) related stocks after last week's overspending-fear led selloff. In addition, a Barron's report indicated China chip peer CXMT is forecasting a massive DRAM revenue boom, reassuring Wall Street of memory demand.
Prior to today, Micron stock had finished higher only three times in October. The 126-day moving average has stepped up as support during this slide. Though the shares are off 27% from their June 25 all-time high of $1255, they remain up 223% in 2026.
Options are relatively affordable at the moment too. The equity's Schaeffer's Volatility Index (SVI) sits in the 10th percentile of its annual range, meaning options traders are pricing in low volatility expectations.
Micron's Schaeffer's Volatility Scorecard (SVS) sits at 77 out of 100, suggesting the equity has tended to outperform options traders' volatility expectations during the past year.
