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 10 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 20% leaning bullish and 80% bearish. Among these notable options, 4 are puts, totaling $156,835, and 6 are calls, amounting to $485,915.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $475.0 and $700.0 for Lam Research, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $475.0 to $700.0 in the last 30 days.
Lam Research Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LRCX | CALL | SWEEP | BEARISH | 03/15/24 | $670.00 | $230.3K | 138 | 50 |
| LRCX | CALL | TRADE | BEARISH | 01/19/24 | $700.00 | $88.0K | 710 | 50 |
| LRCX | PUT | SWEEP | BEARISH | 11/17/23 | $615.00 | $52.0K | 462 | 30 |
| LRCX | CALL | TRADE | BEARISH | 12/15/23 | $475.00 | $51.3K | 1 | 0 |
| LRCX | PUT | SWEEP | BULLISH | 11/17/23 | $645.00 | $47.7K | 122 | 6 |
Current Position of Lam Research
- Currently trading with a volume of 485,693, the LRCX's price has up by 0.55%, now at $644.77. RSI readings suggest the stock is currently may be approaching overbought. Anticipated earnings release is in 77 days.
Professional Analyst Ratings for Lam Research:
- JP Morgan persists with their Overweight rating on Lam Research, maintaining a target price of $700.
- B. Riley Securities persists with their Neutral rating on Lam Research, maintaining a target price of $700.
- Showing optimism, Needham upgrades its rating to Buy with a revised price target of $800.
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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