Looking At Lam Research's Recent Unusual Options Activity

Looking At Lam Research's Recent Unusual Options Activity

Someone with a lot of money to spend has taken a bearish stance on Lam Research LRCX.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with LRCX, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 40 uncommon options trades for Lam Research.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $1,262,225, and 32 are calls, for a total amount of $1,752,838.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $340.0 to $1080.0 for Lam Research over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Lam Research options trades today is 137.17 with a total volume of 3,295.00.

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 $340.0 to $1080.0 over 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 Strike Price Total Trade Price Open Interest Volume
LRCX PUT TRADE BEARISH 01/20/23 $460.00 $858.0K 459 337
LRCX CALL SWEEP BULLISH 09/15/23 $460.00 $135.6K 3 71
LRCX CALL TRADE BEARISH 03/17/23 $470.00 $102.8K 41 24
LRCX PUT TRADE BULLISH 01/19/24 $960.00 $100.7K 0 4
LRCX CALL TRADE NEUTRAL 12/02/22 $415.00 $87.5K 39 20

Where Is Lam Research Standing Right Now?

  • With a volume of 728,860, the price of LRCX is down -2.6% at $460.12.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 55 days.

What The Experts Say On Lam Research:

  • UBS has decided to maintain their Buy rating on Lam Research, which currently sits at a price target of $530.

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.

Posted In: BZI-UOAOptionsMarkets