$60 million in bullish call premium just poured into memory chips as Micron, SanDisk, and SK Hynix all ripped 20 to 24 percent off their July lows. Signal vs Noise breaks down the tape and finds the prints are not all equal.
SanDisk has the biggest print at 46.7 million, but its open interest actually fell, Micron shows cleaner repeat flow, and SK Hynix has the clearest open interest build. the signal is the breadth of the whole group moving together, while the noise is the price of admission: sky high implied volatility and short dated calls. not a recommendation.
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Chapters
00:00 Memory Is Back in the Spotlight
00:52 $60M in Bullish Call Premium
01:28 Micron's Repeat Flow
02:29 SanDisk: The $46.7M Print and the Catch
03:51 SK Hynix: The Cleanest...