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 12 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 25% leaning bullish and 75% bearish. Among these notable options, 5 are puts, totaling $301,170, and 7 are calls, amounting to $278,606.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $380.0 and $745.0 for Lam Research, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Lam Research options trades today is 117.14 with a total volume of 221.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lam Research's big money trades within a strike price range of $380.0 to $745.0 over the last 30 days.
Lam Research 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LRCX | PUT | SWEEP | BEARISH | 03/15/24 | $655.00 | $149.6K | 72 | 52 |
| LRCX | CALL | TRADE | BULLISH | 03/15/24 | $690.00 | $95.1K | 51 | 0 |
| LRCX | PUT | TRADE | BULLISH | 01/19/24 | $680.00 | $68.8K | 278 | 40 |
| LRCX | PUT | SWEEP | NEUTRAL | 01/19/24 | $690.00 | $31.2K | 156 | 24 |
| LRCX | CALL | TRADE | BEARISH | 01/19/24 | $380.00 | $31.0K | 85 | 4 |
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.
In light of the recent options history for Lam Research, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Lam Research Standing Right Now?
- Currently trading with a volume of 682,290, the LRCX's price is down by -2.55%, now at $691.95.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 50 days.
Expert Opinions on Lam Research
In the last month, 1 experts released ratings on this stock with an average target price of $800.0.
- An analyst from Redburn Atlantic downgraded its action to Buy with a price target of $800.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Lam Research options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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