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 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 30% leaning bullish and 70% bearish. Among these notable options, 5 are puts, totaling $169,055, and 15 are calls, amounting to $736,122.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $370.0 to $820.0 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 $370.0 to $820.0 in the last 30 days.
Lam Research Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LRCX | CALL | TRADE | BULLISH | 01/19/24 | $540.00 | $106.2K | 115 | 5 |
| LRCX | CALL | SWEEP | NEUTRAL | 02/09/24 | $750.00 | $89.5K | 0 | 40 |
| LRCX | CALL | TRADE | BEARISH | 01/19/24 | $745.00 | $81.0K | 167 | 44 |
| LRCX | CALL | SWEEP | BULLISH | 01/26/24 | $735.00 | $72.6K | 37 | 20 |
| LRCX | CALL | SWEEP | NEUTRAL | 01/12/24 | $760.00 | $67.2K | 61 | 163 |
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.
Present Market Standing of Lam Research
- With a trading volume of 327,102, the price of LRCX is up by 2.61%, reaching $751.5.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 16 days from now.
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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