Micron $MU has now hit its 1.618 extension since the 2000 high at $1200+, an incredible feat and something all long-term shareholders should be extremely proud of.

An 18x return in less than 18 months and 120x in 10 years. This is by definition a parabolic move and there have been many speculators chasing the name as of late
I'm well aware much of this rally has been earnings driven but the market is a forward looking mechanism and pricing in future growth. While price can stay irrational without significant pullbacks, I'll stand by the position that over the next few years we will see a -50% or more correction here
If I was invested and looking for what to do with my position, I would sell either trim the position significantly or sell volatility:
- sell/trim 50-65%
- Sell ITM covered calls for end of 2027/early 2028