Micron’s AI Demand Backdrop Fuels a Lean Bullish Options Play

Micron stock has surged this year, but the analysis argues the smart-money view remains calm rather than panicked, with volatility skew suggesting limited downside anxiety and potential upside. A key takeaway is a cost-efficient March 20 bull call spread (430/440) offering a breakeven near 435.15 and up to ~94% potential payout, driven by AI memory demand. Street data show MU as a Strong Buy with an average target of about 404.73, implying modest downside risk over the next year amid an AI-driven memory cycle.