Micron to Report Q4 Results as $11.8M Call Trade Targets Upside
Micron reports Q4 earnings on Sept 30, with an $11.8M options trade targeting upside and strong HBM4 demand signals.
Key points
- Micron reports Q4 earnings on Sept 30, with an $11.8M call trade targeting upside.
- Previous quarter revenue hit $41.46B, up 74% sequentially, with 84.9% gross margin.
- TrendForce data shows server DRAM revenue jumped 53% QoQ to $75.58B.
Micron Technology prepares to announce its fiscal 2026 fourth-quarter results on September 30, with a significant options position signaling continued optimism in the memory sector. A trade involving approximately 2,140 call options expiring in early October was executed on Tuesday, reflecting a premium of $11.8 million and positioning investors for potential post-earnings gains.
The company’s recent financial performance has been robust, driven by surging demand for AI infrastructure components. Micron reported revenue of $41.46 billion in the previous quarter, a 74% sequential increase, alongside a non-GAAP EPS of $25.11 and a gross margin of 84.9%. These figures underscore the strengthening market position of memory suppliers amid tightening DRAM supply conditions.
Options trade targets earnings window
The bullish position consists of at-the-money calls with a strike price of $1,060, expiring on October 2, just two days after Micron’s earnings release. According to Moomoo, this specific trade allows buyers to capture pre-earnings momentum while retaining exposure to the immediate post-report market reaction. The average price of these contracts was $54.99, indicating high implied volatility and significant capital commitment to the company’s near-term trajectory.
Strong guidance and HBM4 ramp
Micron’s outlook for the current quarter projects revenue between $49 billion and $51 billion, with EPS estimated at $31 and gross margins near 86%. This upward trajectory is supported by TrendForce data showing a 53% quarter-over-quarter jump in server DRAM revenue to $75.58 billion. The company has already initiated high-volume shipments of HBM4, a critical component for next-generation AI hardware, which is expected to drive further margin expansion.
Sector demand remains tight
Memory fundamentals continue to favor suppliers as AI infrastructure demand tightens global DRAM availability. TrendForce recently raised its 2027 HBM price outlook, citing constrained supply and an increasing mix of HBM4 in production. For Micron, the key test on September 30 will be whether the sustained demand for high-bandwidth memory can maintain the revenue growth and margin improvements seen in the recent quarter.
