A whale with a lot of money to spend has taken a noticeably bearish stance on Lam Research.
Looking at options history for Lam Research (NASDAQ:LRCX) we detected 36 strange trades.
If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.
From the overall spotted trades, 27 are puts, for a total amount of $2,111,710 and 9, calls, for a total amount of $704,169.
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 $300.0 to $580.0 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 308.17 with a total volume of 3,245.00.
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 $300.0 to $580.0 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 | CALL | SWEEP | BEARISH | 01/20/23 | $430.00 | $215.1K | 114 | 51 |
| LRCX | PUT | TRADE | BULLISH | 07/15/22 | $450.00 | $186.6K | 701 | 36 |
| LRCX | PUT | TRADE | NEUTRAL | 01/19/24 | $470.00 | $183.6K | 228 | 0 |
| LRCX | PUT | TRADE | BULLISH | 06/16/23 | $420.00 | $178.3K | 39 | 52 |
| LRCX | PUT | SWEEP | BULLISH | 07/29/22 | $450.00 | $170.1K | 34 | 28 |
Where Is Lam Research Standing Right Now?
- With a volume of 2,052,847, the price of LRCX is down -7.46% at $394.38.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 26 days.
What The Experts Say On Lam Research:
- B of A Securities has decided to maintain their Buy rating on Lam Research, which currently sits at a price target of $540.
- UBS has decided to maintain their Buy rating on Lam Research, which currently sits at a price target of $510.
- B. Riley Securities downgraded its action to Neutral with a price target of $525
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.
