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 10 options trades for Lam Research. This is not a typical pattern.
The sentiment among these major traders is split, with 60% bullish and 40% bearish. Among all the options we identified, there was one put, amounting to $245,600, and 9 calls, totaling $377,043.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $670.0 and $800.0 for Lam Research, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Lam Research's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Lam Research's significant trades, within a strike price range of $670.0 to $800.0, over the past month.
Lam Research Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LRCX | PUT | SWEEP | BEARISH | 06/21/24 | $760.00 | $245.6K | 45 | 40 |
| LRCX | CALL | SWEEP | BEARISH | 03/15/24 | $670.00 | $71.2K | 159 | 0 |
| LRCX | CALL | TRADE | BEARISH | 12/22/23 | $800.00 | $50.3K | 183 | 6 |
| LRCX | CALL | SWEEP | NEUTRAL | 12/22/23 | $800.00 | $48.0K | 183 | 1.3K |
| LRCX | CALL | SWEEP | BULLISH | 12/22/23 | $800.00 | $47.2K | 183 | 470 |
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.
Following our analysis of the options activities associated with Lam Research, we pivot to a closer look at the company's own performance.
Present Market Standing of Lam Research
- Trading volume stands at 75,836, with LRCX's price down by -0.91%, positioned at $766.44.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 37 days.
What The Experts Say On Lam Research
2 market experts have recently issued ratings for this stock, with a consensus target price of $760.0.
- An analyst from Morgan Stanley has revised its rating downward to Equal-Weight, adjusting the price target to $720.
- In a cautious move, an analyst from Redburn Atlantic downgraded its rating to Buy, setting 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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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