Market Whales and Their Recent Bets on LRCX Options
Portfolio Pulse from Benzinga Insights
Recent options trading activity indicates a bearish stance on Lam Research (LRCX) by market whales, with 65% of detected trades being bearish. The trading range for LRCX options spans from $510 to $1480. Notably, a significant PUT option trade was observed with a strike price of $825 and an expiration date of 09/20/24, totaling $463K. Conversely, a notable CALL option with bullish sentiment had a strike price of $930, expiring on 04/19/24, and amounted to $180K. Lam Research, a leading semiconductor equipment manufacturer, is currently trading at $929.03, up 2.08%, with an RSI indicating it may be approaching overbought territory. Analyst ratings have a consensus target price of $957.5, with UBS maintaining a Buy rating at a target of $1130, while Cantor Fitzgerald downgraded to Neutral with a target of $900.
March 18, 2024 | 4:31 pm
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NEUTRAL IMPACT
Market whales' bearish options trades and mixed analyst ratings suggest a cautious outlook for Lam Research, despite its current uptrend.
The bearish sentiment from options traders, combined with the recent analyst downgrades, could introduce volatility or temper the stock's short-term gains. However, the company's strong position in the semiconductor equipment market and the current uptrend in its stock price provide a counterbalance, leading to a neutral short-term impact assessment.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100