Micron Jumps 6% and Super Micro Surges 16% on AI Bets

3 articles · Updated · CNBC · Jun 22

Micron rose nearly 6% Monday and Super Micro Computer gained 16%, extending an AI-driven rally ahead of Micron earnings and after Super Micro unveiled a new Nvidia-based data center blueprint.
Options activity showed traders leaning bullish: Micron drew $3.3 billion in options volume, including $2.6 billion in call premiums, while SMCI traded more than 320,000 calls versus 64,000 puts.
Micron's setup is especially tense because implied volatility hit 116—among the S&P 500's highest—and options markets are pricing a 10% post-earnings swing, the biggest since December 2024.
The positioning still is not one-way: traders also sold calls in Micron and in the Roundhill Memory ETF, where 34,000 calls were sold Monday versus just under 20,000 bought.
Cerebras reports Tuesday and Micron on Wednesday, giving investors an early-week test of whether semiconductors can keep leading the broader bull market.