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 20 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 60% leaning bullish and 40% bearish. Among these notable options, 7 are puts, totaling $1,085,180, and 13 are calls, amounting to $885,839.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $420.0 to $715.0 for Lam Research over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Lam Research stands at 229.5, with a total volume reaching 2,879.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lam Research, situated within the strike price corridor from $420.0 to $715.0, throughout the last 30 days.
Lam Research Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LRCX | PUT | TRADE | NEUTRAL | 01/19/24 | $640.00 | $833.2K | 1.0K | 825 |
| LRCX | CALL | SWEEP | NEUTRAL | 01/19/24 | $690.00 | $465.5K | 254 | 0 |
| LRCX | PUT | TRADE | NEUTRAL | 01/19/24 | $680.00 | $75.8K | 246 | 46 |
| LRCX | CALL | TRADE | BULLISH | 03/15/24 | $700.00 | $60.0K | 129 | 0 |
| LRCX | CALL | SWEEP | NEUTRAL | 12/01/23 | $680.00 | $54.0K | 49 | 20 |
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.
Current Position of Lam Research
- Currently trading with a volume of 298,892, the LRCX's price is down by -0.53%, now at $696.65.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 65 days.
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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