Security In Focus: Micron ($MU)

We've been watching Micron for sometime now skeptical of biz fundamentals. Overnight, chip sales out of S. Korea, tanked, which could be indicative for the sector. We see at least 5% downside to $MU here, and perhaps could fall by as much as 15%. Earnings are scheduled for June 19. We look the June 17 Puts (open to buy) @ $40 strike for $1.60 per contract here.

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