I have been looking for a play recently since I’m flush with cash after selling a few plays. I’ve been better at being patient and was really close to buying micron puts at close yesterday. This morning I almost had didn’t buy it remorse when I saw Lenevo has instructed internal buyers and sub tiers to stop using micron memory. The stock instantly dropped 2% and I thought I missed my chance (also trying to not chase plays). But now it’s back to positive territory. Part of my thesis yesterday was that the China ban was being under appreciated since what China says and what it does or usually two different things. The fake reason is just for domestic consumption and we investors should see this coming that they would ban micron in a much wider swathe of products then they claimed. Add this that micron is trading in a range it was swinging in for a large chunk of 2021 when it was earning over 2$ a share instead of losing 2$ a share. Memory glut hit them hard, consumption of memory products is way down and this headwind means micron isn’t bottomed out yet. This applies more pressure as supply chains can use this to further put price pressure on micron products. The stock just rode nvda earnings to plus 5%. What do you all think. Is today the day to start layering into puts? Maybe a mix of end of June and July atm and itm puts?
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