Deep-pocketed investors have adopted a bullish 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 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $58,160, and 8 are calls, amounting to $399,018.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $920.0 to $1045.0 for Lam Research over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Lam Research options trades today is 124.38 with a total volume of 127.00.
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 $920.0 to $1045.0 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 | CALL | SWEEP | BULLISH | 04/05/24 | $980.00 | $130.4K | 150 | 93 |
| LRCX | CALL | SWEEP | BULLISH | 04/05/24 | $920.00 | $65.0K | 3 | 0 |
| LRCX | CALL | TRADE | BULLISH | 03/28/24 | $950.00 | $47.0K | 105 | 0 |
| LRCX | CALL | SWEEP | BEARISH | 04/19/24 | $970.00 | $43.9K | 74 | 0 |
| LRCX | CALL | SWEEP | BULLISH | 04/26/24 | $1045.00 | $33.8K | 0 | 0 |
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.
Present Market Standing of Lam Research
- Trading volume stands at 68,232, with LRCX's price up by 0.11%, positioned at $966.74.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 20 days.
Expert Opinions on Lam Research
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $976.6666666666666.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $900.
- An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $900.
- Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Lam Research, targeting a price of $1130.
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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