<div id="readability-page-1">Shares of chipmaker Micron Technology Inc (NASDAQ:MU) briefly hit a fresh record high for a fifth-straight session before edging down 0.5% to trade at $285.21. The move reflects an extension of the stock's long-term, tech-induced outperformance. MU has surged 240% since the start of the year, with two brief pullbacks in November and mid-December, which were captured by the 50-day moving average. Surprisingly, short-term bears have been entering MU in droves, per it's Schaeffer's put/call open interest ratio (SOIR) of 1.23, which ranks higher than all annual readings. An unwinding of these bearish bets could generate additional tailwinds for the equity moving forward. Options on Micron Technology are currently looking affordable. The stock's Schaeffer's Volatility Index (SVI) of 52% sits higher than just 22% of readings from the last year. Additionally, MU's Schaeffer's Volatility Scorecard (SVS) stands at 87 out of 100. This means the security has consistently realized higher volatility than its options have priced in.</div>

Micron Technology's stock briefly hit a record high for the fifth consecutive session before dropping 0.5% to $285.21. The stock has surged 240% this year, despite short-term bearish bets indicated by a high put/call ratio. Options are affordable, with a Volatility Index of 52% and a Volatility Scorecard of 87, suggesting realized volatility exceeds expectations.

- Micron Technology Inc's shares reached a record high before a slight decline to $285.21, achieving a 240% increase this year despite two brief pullbacks.  
- The Schaeffer's put/call open interest ratio of 1.23 indicates a significant influx of short-term bearish positions, which, if unwound, could support the stock's momentum.  
- Currently, Micron's options are deemed affordable, with a Schaeffer's Volatility Index of 52% reflecting greater volatility than historically expected.

Micron Technology Extends Record-Breaking Run