High-rolling investors have positioned themselves bullish 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 14 options trades for Lam Research. This is not a typical pattern.
The sentiment among these major traders is split, with 57% bullish and 35% bearish. Among all the options we identified, there was one put, amounting to $67,200, and 13 calls, totaling $611,491.
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 $700.0 and $910.0 for Lam Research, spanning the last three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Lam Research's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Lam Research's significant trades, within a strike price range of $700.0 to $910.0, over the past month.
Lam Research Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LRCX | CALL | TRADE | BULLISH | 01/17/25 | $216.25 | $212.2 | $215.0 | $700.00 | $107.5K | 102 | 5 |
| LRCX | CALL | SWEEP | BULLISH | 08/23/24 | $7.2 | $6.85 | $7.2 | $900.00 | $88.5K | 914 | 348 |
| LRCX | CALL | SWEEP | BULLISH | 08/23/24 | $4.7 | $4.05 | $4.75 | $910.00 | $71.2K | 86 | 157 |
| LRCX | PUT | SWEEP | BEARISH | 09/20/24 | $42.0 | $40.5 | $42.0 | $880.00 | $67.2K | 160 | 16 |
| LRCX | CALL | SWEEP | BEARISH | 08/23/24 | $5.4 | $5.25 | $5.25 | $910.00 | $50.2K | 86 | 1.5K |
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.
Having examined the options trading patterns of Lam Research, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Lam Research's Current Market Status
- With a volume of 95,816, the price of LRCX is down -0.26% at $879.02.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 57 days.
Expert Opinions on Lam Research
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1066.0.
- An analyst from Deutsche Bank persists with their Buy rating on Lam Research, maintaining a target price of $950.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $1130.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Lam Research with a target price of $1050.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Lam Research, maintaining a target price of $1000.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $1200.
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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