Options trading in Micron Technology Inc. (NASDAQ:MU) accelerated sharply on Friday, reaching a total of 1.28 million contracts by 2:20 p.m. New York time. Exchange data compiled by Bloomberg show the session was marked by unusually large volumes in both calls and puts.
Call transactions accounted for 741,810 contracts, the highest daily call volume recorded since September 26, 2024. Put activity was also substantial, with 535,978 contracts traded, representing a record high for put volume.
The single most active contract during the session was the May 8, 2026 $700 put, which saw 20,219 contracts change hands and had 129 contracts listed in open interest. On the call side, the May 8, 2026 $735 call was notable for 10,996 contracts traded against 261 contracts in open interest.
Other strike prices that registered heavy flows included the May 8, 2026 $710 call with 10,948 contracts traded, the $750 call with 10,648 contracts, and the $700 call with 10,107 contracts.
Micron's underlying shares responded strongly during the same session, rising 13.1% to a closing trade of $731.24 on Friday. Market-derived measures of short-term risk also moved: the company's three-month volatility increased by 5.35 percentage points to 85.52%, while the three-month 90/110 skew declined by 0.15 percentage points to negative 0.41 percentage points.
Taken together, the data indicate a surge in trader engagement across both bullish and bearish option structures in one of the most actively traded names in the semiconductor sector on Friday. The concentration of trades in specific May 8, 2026 strikes and the concurrent jump in the stock price underscore a session of concentrated directional activity and rising implied volatility.
While the volumes and contract-level details are clear from exchange reporting, the broader implications for positioning and subsequent volatility are not specified in the data. The record put volume and elevated call flow are facts of the session; interpretations beyond those observations are not provided in the exchange figures.