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 13 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 46% leaning bullish and 15% bearish. Among these notable options, 3 are puts, totaling $153,720, and 10 are calls, amounting to $551,466.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $380.0 and $1540.0 for Lam Research, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Lam Research's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Lam Research's whale activity within a strike price range from $380.0 to $1540.0 in the last 30 days.
Lam Research Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LRCX | CALL | SWEEP | BEARISH | 06/21/24 | $120.75 | $107.8 | $112.74 | $925.00 | $146.4K | 109 | 0 |
| LRCX | CALL | TRADE | BULLISH | 01/16/26 | $75.5 | $69.0 | $75.5 | $1540.00 | $83.0K | 15 | 0 |
| LRCX | CALL | TRADE | BULLISH | 06/21/24 | $663.9 | $649.45 | $658.9 | $380.00 | $65.8K | 1 | 0 |
| LRCX | PUT | SWEEP | BULLISH | 06/28/24 | $30.9 | $29.9 | $30.9 | $1040.00 | $64.8K | 5 | 2 |
| LRCX | PUT | TRADE | NEUTRAL | 06/28/24 | $30.25 | $28.55 | $29.4 | $1040.00 | $58.8K | 5 | 33 |
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.
Following our analysis of the options activities associated with Lam Research, we pivot to a closer look at the company's own performance.
Where Is Lam Research Standing Right Now?
- Trading volume stands at 79,937, with LRCX's price up by 0.18%, positioned at $1037.85.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 37 days.
Professional Analyst Ratings for Lam Research
3 market experts have recently issued ratings for this stock, with a consensus target price of $1020.0.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Lam Research, targeting a price of $900.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Lam Research, maintaining a target price of $1100.
- An analyst from Raymond James persists with their Outperform rating on Lam Research, maintaining a target price of $1060.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Lam Research with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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