High-rolling investors have positioned themselves bullish 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 18 options trades for Lam Research. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 22% bearish. Among all the options we identified, there was one put, amounting to $48,690, and 17 calls, totaling $712,782.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $700.0 to $1260.0 for Lam Research during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Lam Research stands at 100.07, with a total volume reaching 235.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lam Research, situated within the strike price corridor from $700.0 to $1260.0, throughout the last 30 days.
Lam Research Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LRCX | CALL | SWEEP | BEARISH | 09/20/24 | $17.35 | $16.5 | $16.5 | $1260.00 | $80.8K | 224 | 99 |
| LRCX | CALL | SWEEP | NEUTRAL | 07/26/24 | $32.8 | $31.15 | $32.1 | $1080.00 | $64.1K | 30 | 0 |
| LRCX | CALL | SWEEP | BEARISH | 07/19/24 | $28.35 | $27.0 | $27.0 | $1060.00 | $54.0K | 200 | 2 |
| LRCX | PUT | TRADE | NEUTRAL | 01/16/26 | $83.95 | $78.35 | $81.15 | $880.00 | $48.6K | 30 | 1 |
| LRCX | CALL | TRADE | BULLISH | 08/16/24 | $161.85 | $159.6 | $161.85 | $930.00 | $48.5K | 299 | 2 |
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?
- Trading volume stands at 299,451, with LRCX's price up by 2.5%, positioned at $1086.39.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 19 days.
Expert Opinions on Lam Research
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $1212.5.
- Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Lam Research, targeting a price of $1325.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Lam Research, targeting a price of $1100.
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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