High-rolling investors have positioned themselves bearish on Lam Research LRCX, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in LRCX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Lam Research. This is not a typical pattern.
The sentiment among these major traders is split, with 22% bullish and 33% bearish. Among all the options we identified, there was one put, amounting to $31,225, and 8 calls, totaling $589,302.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $600.0 to $1000.0 for Lam Research over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Lam Research options trades today is 63.56 with a total volume of 77.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lam Research's big money trades within a strike price range of $600.0 to $1000.0 over the last 30 days.
Lam Research Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LRCX | CALL | TRADE | BEARISH | 06/21/24 | $371.9 | $366.0 | $366.0 | $600.00 | $183.0K | 97 | 5 |
| LRCX | CALL | TRADE | BEARISH | 06/21/24 | $34.15 | $33.5 | $33.5 | $975.00 | $167.5K | 99 | 50 |
| LRCX | CALL | TRADE | NEUTRAL | 03/21/25 | $127.95 | $122.35 | $125.0 | $1000.00 | $62.5K | 66 | 5 |
| LRCX | CALL | TRADE | BEARISH | 01/16/26 | $299.6 | $292.0 | $292.0 | $800.00 | $58.4K | 32 | 2 |
| LRCX | CALL | SWEEP | NEUTRAL | 07/19/24 | $58.25 | $56.0 | $56.92 | $960.00 | $39.8K | 57 | 9 |
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.
After a thorough review of the options trading surrounding Lam Research, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Lam Research's Current Market Status
- With a trading volume of 97,889, the price of LRCX is up by 2.05%, reaching $977.76.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 61 days from now.
Professional Analyst Ratings for Lam Research
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1002.0.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $1100.
- Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Lam Research with a target price of $1150.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Neutral rating for Lam Research, targeting a price of $850.
- An analyst from Mizuho persists with their Buy rating on Lam Research, maintaining a target price of $960.
- An analyst from JP Morgan persists with their Overweight rating on Lam Research, maintaining a target price of $950.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Lam Research options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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