A whale with a lot of money to spend has taken a noticeably bearish stance on Lam Research.
Looking at options history for Lam Research LRCX we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $407,484 and 8, calls, for a total amount of $519,845.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $580.0 to $700.0 for Lam Research over the last 3 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 $580.0 to $700.0 in 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 | BULLISH | 08/11/23 | $630.00 | $193.3K | 73 | 50 |
| LRCX | PUT | TRADE | BEARISH | 09/15/23 | $650.00 | $104.0K | 387 | 52 |
| LRCX | CALL | SWEEP | BULLISH | 09/15/23 | $690.00 | $91.1K | 185 | 80 |
| LRCX | CALL | SWEEP | BULLISH | 08/18/23 | $635.00 | $79.2K | 106 | 50 |
| LRCX | PUT | SWEEP | BEARISH | 08/11/23 | $695.00 | $66.4K | 58 | 22 |
Where Is Lam Research Standing Right Now?
- With a volume of 457,874, the price of LRCX is down -3.41% at $663.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 68 days.
What The Experts Say On Lam Research:
- Barclays has decided to maintain their Equal-Weight rating on Lam Research, which currently sits at a price target of $600.
- Citigroup has decided to maintain their Buy rating on Lam Research, which currently sits at a price target of $800.
- Mizuho has decided to maintain their Buy rating on Lam Research, which currently sits at a price target of $680.
- Morgan Stanley has decided to maintain their Overweight rating on Lam Research, which currently sits at a price target of $720.
- Stifel upgraded its action to Buy with a price target of $725
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.
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