Puts Purchased on Lam Research Corporation (LRCX)

Shares of Lam Research Corporation LRCX are lower on the session by 5.55%, currently trading at $54.63. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages.

Options traders are buying puts on the name today. A short while ago the June 2011 $50.00 put was purchased 2,000 times, on the offer, on open interest of only 991 contracts. This signals new positioning on the name.

Overall put volume is now running at 5.95x the daily average with 80% of all puts traded being purchases on the offer.

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the worldwide semiconductor industry. The company designs, manufactures, markets, and services semiconductor processing equipment used in the fabrication of integrated circuits.