Micron Technology is set to release its fiscal year 2026 earnings after the bell on Wednesday. The AI infrastructure buildout has seen Micron's revenues quintuple in the past two years, with adjusted net income surging 10,686% over the period. Next year's anticipated net income is projected at $179.2 billion, a 22,600% increase in three years. Options markets imply a move of approximately 6% higher or lower following the earnings report, which translates to a $73.3 billion change in the company's $1.22 trillion market capitalization. CNBC contributor Mike Khouw suggests a range-bound trading strategy, such as a November 900/1300 short-strangle, with a nearly 71% probability of profit.