Deep-pocketed investors have adopted a bullish approach towards Lam Research LRCX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LRCX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 52 extraordinary options activities for Lam Research. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 9 are puts, totaling $412,517, and 43 are calls, amounting to $2,978,470.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $725.0 to $1240.0 for Lam Research during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Lam Research stands at 83.32, with a total volume reaching 2,413.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lam Research, situated within the strike price corridor from $725.0 to $1240.0, throughout the last 30 days.
Lam Research Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LRCX | CALL | SWEEP | NEUTRAL | 06/21/24 | $1100.00 | $468.3K | 82 | 125 |
| LRCX | CALL | SWEEP | BULLISH | 03/15/24 | $1020.00 | $137.2K | 327 | 104 |
| LRCX | CALL | SWEEP | BEARISH | 03/28/24 | $970.00 | $132.4K | 54 | 35 |
| LRCX | CALL | SWEEP | NEUTRAL | 05/17/24 | $960.00 | $128.8K | 54 | 46 |
| LRCX | CALL | SWEEP | BULLISH | 03/28/24 | $975.00 | $124.0K | 45 | 31 |
About Lam Research
Lam Research is one of the largest semiconductor wafer fabrication equipment, or WFE, manufacturers in the world. It specializes in the market segments of deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear cut second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.
Current Position of Lam Research
- Trading volume stands at 595,614, with LRCX's price up by 1.37%, positioned at $976.3.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 42 days.
Professional Analyst Ratings for Lam Research
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $957.5.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $900.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $900.
- An analyst from UBS persists with their Buy rating on Lam Research, maintaining a target price of $1130.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $900.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Lam Research, Benzinga Pro gives you real-time options trades alerts.
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