$MU Options Iron Condor: Credit $655, Max Profit $655 on Apr 10, 2026

$Micron Technology(MU)$ Options Iron Condor: Credit $655, Max Profit $655 on Apr 10, 2026

📊 Ticker: $Micron Technology(MU)$ | Strategy: Iron Condor (Short Volatility, Positive Theta)

Contracts

• Sell to Open: 1x $430 Call (Bid $18.15)

• Buy to Open: 1x $440 Call (Ask $14.90)

• Sell to Open: 1x $410 Put (Bid $16.90)

• Buy to Open: 1x $400 Put (Ask $13.60)

Financials

• Net Credit: ($18.15 + $16.90) − ($14.90 + $13.60) = $6.55 per share

• Initial Credit: $6.55 × 100 = $655

• Max Profit: $655 (if $Micron Technology(MU)$ remains between $410 and $430 at expiration)

• Max Loss: Spread width ($10) − Credit ($6.55) × 100 = $345

• Breakevens: Lower BE = $410 − $6.55 = $403.45; Upper BE = $430 + $6.55 = $436.55

Thesis

Neutral to moderately bullish on $Micron Technology(MU)$ after a sharp rebound. IV is elevated (73.91%) with a high IV percentile (74%) and IV/HV ≈ 0.96. Call/Put ratio of 1.48 suggests mild bullish tilt, but price likely oscillates near ~$420. This Iron Condor captures time decay (positive Theta) while protecting against heightened IV contraction (negative Vega). Breakevens allow for a −4.1% to +3.8% range into Apr 24, 2026, expiration.

Happy to pocket the $655 credit if $Micron Technology(MU)$ stays within $410-$430. Ready to defend if it breaches breakevens $403.45 or $436.55.

⚠️ Disclaimer: This is not financial advice. Options trading involves significant risk and may result in loss of capital. Past performance does not guarantee future results. Always do your own research and consult a qualified financial advisor before making investment decisions.