Deep-pocketed investors have adopted a bearish 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 15 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 33% leaning bullish and 60% bearish. Among these notable options, 2 are puts, totaling $1,899,600, and 13 are calls, amounting to $603,096.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $118.0 for Lam Research over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Lam Research options trades today is 1483.31 with a total volume of 5,532.00.
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 $70.0 to $118.0 over the last 30 days.
Lam Research Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LRCX | PUT | TRADE | BEARISH | 03/21/25 | $7.45 | $7.25 | $7.45 | $82.00 | $1.8M | 130 | 0 |
| LRCX | CALL | SWEEP | BULLISH | 10/18/24 | $3.85 | $3.65 | $3.8 | $83.00 | $76.0K | 3.0K | 625 |
| LRCX | CALL | SWEEP | BEARISH | 10/18/24 | $2.51 | $2.5 | $2.5 | $84.00 | $75.0K | 3.4K | 596 |
| LRCX | CALL | TRADE | NEUTRAL | 11/15/24 | $8.75 | $7.7 | $8.3 | $79.50 | $74.7K | 246 | 90 |
| LRCX | CALL | TRADE | BEARISH | 11/15/24 | $8.25 | $7.65 | $7.7 | $80.50 | $69.3K | 365 | 90 |
About Lam Research
Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in 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 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
Current Position of Lam Research
- Currently trading with a volume of 3,400,551, the LRCX's price is up by 2.93%, now at $85.31.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 9 days.
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 $899.4.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Cantor Fitzgerald persists with their Neutral rating on Lam Research, maintaining a target price of $1000. * Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on Lam Research with a target price of $950. * An analyst from Morgan Stanley persists with their Equal-Weight rating on Lam Research, maintaining a target price of $774. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Lam Research with a target price of $880. * An analyst from Citigroup has decided to maintain their Buy rating on Lam Research, which currently sits at a price target of $893.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
