High-rolling investors have positioned themselves bearish on Lam Research LRCX, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in LRCX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 17 options trades for Lam Research. This is not a typical pattern.
The sentiment among these major traders is split, with 29% bullish and 70% bearish. Among all the options we identified, there was one put, amounting to $30,500, and 16 calls, totaling $1,076,817.
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 $460.0 and $880.0 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 160.71 with a total volume of 359.00.
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 $460.0 to $880.0 over the last 30 days.
Lam Research Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LRCX | CALL | SWEEP | BULLISH | 01/19/24 | $800.00 | $177.0K | 643 | 181 |
| LRCX | CALL | TRADE | NEUTRAL | 02/16/24 | $790.00 | $138.6K | 149 | 0 |
| LRCX | CALL | TRADE | NEUTRAL | 01/19/24 | $800.00 | $110.7K | 643 | 10 |
| LRCX | CALL | TRADE | BEARISH | 01/19/24 | $460.00 | $98.5K | 105 | 0 |
| LRCX | CALL | TRADE | BEARISH | 01/19/24 | $720.00 | $74.2K | 485 | 26 |
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.
After a thorough review of the options trading surrounding Lam Research, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Lam Research's Current Market Status
- With a volume of 128,797, the price of LRCX is up 0.39% at $783.04.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 29 days.
What Analysts Are Saying About Lam Research
In the last month, 1 experts released ratings on this stock with an average target price of $720.0.
- In a cautious move, an analyst from Morgan Stanley downgraded its rating to Equal-Weight, setting a price target of $720.
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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