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Decoding Lam Research's Options Activity: What's the Big Picture?

Benzinga•December 02, 2025 at 6:01 PM•Full Content

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Detected Companies & Sentiment

Lam Research Corporation

"neutral overview"

Gist

Large options trades indicate bearish sentiment among major investors in Lam Research, despite analyst optimism and strong market positioning.

LLM Summary

Benzinga detected unusual options activity in Lam Research, with 28 significant trades showing 60% bearish sentiment, primarily through call options. While institutional investors appear to be betting on a price decline, analysts maintain positive ratings with average price targets above the current stock price. The data suggests potential market divergence between retail/institutional options activity and analyst consensus.

Full Article Content

Investors with a lot of money to spend have taken a bearish stance on Lam Research (NASDAQ: LRCX).

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

Whether these are institutions or just wealthy individuals, 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 these investors just did?

Today, Benzinga's options scanner spotted 28 uncommon options trades for Lam Research.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 60%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $406,972, and 22 are calls, for a total amount of $3,595,359.

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 $86.0 to $185.0 for Lam Research over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Lam Research's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lam Research's substantial trades, within a strike price spectrum from $86.0 to $185.0 over the preceding 30 days.

Lam Research Option Volume And Open Interest Over Last 30 Days

!Options Call Chart

Largest Options Trades Observed:

SymbolPUT/CALLTrade TypeSentimentExp. DateAskBidPriceStrike PriceTotal Trade PriceOpen InterestVolumeLRCXCALLTRADEBEARISH06/18/26$36.5$34.7$35.1$135.00$1.4M1.1K401LRCXCALLTRADEBULLISH12/19/25$43.0$43.0$43.0$115.00$258.0K1.1K60LRCXCALLTRADEBEARISH01/21/28$50.35$48.3$49.1$155.00$196.4K341163LRCXCALLTRADEBEARISH01/21/28$49.75$49.1$49.1$155.00$196.4K34143LRCXCALLTRADEBEARISH01/21/28$50.35$48.9$48.9$155.00$195.6K341123

About Lam Research

Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in 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 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.

Having examined the options trading patterns of Lam Research, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Lam Research's Current Market Status

- Trading volume stands at 2,914,824, with LRCX's price up by 2.02%, positioned at $157.91.

- RSI indicators show the stock to be may be approaching overbought.

- Earnings announcement expected in 57 days.

What Analysts Are Saying About Lam Research

In the last month, 3 experts released ratings on this stock with an average target price of $174.33.

Unusual Options Activity Detected: Smart Money on the Move

\\* An analyst from UBS persists with their Buy rating on Lam Research, maintaining a target price of $175.

\\* Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Lam Research with a target price of $158.

\\* An analyst from Citigroup has decided to maintain their Buy rating on Lam Research, which currently sits at a price target of $190.

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.

Investors with a lot of money to spend have taken a bearish stance on **Lam Research** (NASDAQ: LRCX).

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

Whether these are institutions or just wealthy individuals, 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 these investors just did?

Today, Benzinga's options scanner spotted 28 uncommon options trades for Lam Research.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 60%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $406,972, and 22 are calls, for a total amount of $3,595,359.

### 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 $86.0 to $185.0 for Lam Research over the last 3 months.

### Insights into Volume & Open Interest

### Lam Research Option Volume And Open Interest Over Last 30 Days

!Options Call Chart

### Largest Options Trades Observed:

**Symbol****PUT/CALL****Trade Type****Sentiment****Exp. Date****Ask****Bid****Price****Strike Price****Total Trade Price****Open Interest****Volume**LRCXCALLTRADEBEARISH06/18/26$36.5$34.7$35.1$135.00$1.4M1.1K401LRCXCALLTRADEBULLISH12/19/25$43.0$43.0$43.0$115.00$258.0K1.1K60LRCXCALLTRADEBEARISH01/21/28$50.35$48.3$49.1$155.00$196.4K341163LRCXCALLTRADEBEARISH01/21/28$49.75$49.1$49.1$155.00$196.4K34143LRCXCALLTRADEBEARISH01/21/28$50.35$48.9$48.9$155.00$195.6K341123

### About Lam Research

Having examined the options trading patterns of Lam Research, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

### Lam Research's Current Market Status

- Trading volume stands at 2,914,824, with LRCX's price up by 2.02%, positioned at $157.91.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 57 days.

### What Analysts Are Saying About Lam Research

In the last month, 3 experts released ratings on this stock with an average target price of $174.33.

**Unusual Options Activity Detected: Smart Money on the Move**

\\* An analyst from UBS persists with their Buy rating on Lam Research, maintaining a target price of $175.
\\* Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Lam Research with a target price of $158.
\\* An analyst from Citigroup has decided to maintain their Buy rating on Lam Research, which currently sits at a price target of $190.

<p>Investors with a lot of money to spend have taken a bearish stance on <strong>Lam Research</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LRCX">LRCX</a>).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LRCX, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, <a href="https://www.benzinga.com/pro/">Benzinga</a>'s options scanner spotted 28 uncommon options trades for Lam Research.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 25% bullish and 60%, bearish.</p>
<p>Out of all of the special options we uncovered, 6 are puts, for a total amount of $406,972, and 22 are calls, for a total amount of $3,595,359.</p>
<h3>What's The Price Target?</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $86.0 to $185.0 for Lam Research over the last 3 months. </p>
<h3>Insights into Volume &amp; Open Interest</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Lam Research's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lam Research's substantial trades, within a strike price spectrum from $86.0 to $185.0 over the preceding 30 days.</p>
<h3>Lam Research Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2025/1764698483_0.png" alt="Options Call Chart" /></p>

<h3>Largest Options Trades Observed:</h3>
<p><table style="overflow:auto; height: 90px; display: block;">
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th align="right"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>LRCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$36.5</td>
<td>$34.7</td>
<td>$35.1</td>
<td>$135.00</td>
<td>$1.4M</td>
<td>1.1K</td>
<td align="right">401</td>
</tr>
<tr>
<td>LRCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$43.0</td>
<td>$43.0</td>
<td>$43.0</td>
<td>$115.00</td>
<td>$258.0K</td>
<td>1.1K</td>
<td align="right">60</td>
</tr>
<tr>
<td>LRCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/21/28</td>
<td>$50.35</td>
<td>$48.3</td>
<td>$49.1</td>
<td>$155.00</td>
<td>$196.4K</td>
<td>341</td>
<td align="right">163</td>
</tr>
<tr>
<td>LRCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/21/28</td>
<td>$49.75</td>
<td>$49.1</td>
<td>$49.1</td>
<td>$155.00</td>
<td>$196.4K</td>
<td>341</td>
<td align="right">43</td>
</tr>
<tr>
<td>LRCX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/21/28</td>
<td>$50.35</td>
<td>$48.9</td>
<td>$48.9</td>
<td>$155.00</td>
<td>$195.6K</td>
<td>341</td>
<td align="right">123</td>
</tr>
</tbody>
</table></p>
<h3>About Lam Research</h3>
<p>Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in 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 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.</p>
<p>Having examined the options trading patterns of Lam Research, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance</p>
<h3>Lam Research's Current Market Status</h3>
<ul>
<li>Trading volume stands at 2,914,824, with LRCX's price up by 2.02%, positioned at $157.91.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 57 days.</li>
</ul>
<h3>What Analysts Are Saying About Lam Research</h3>
<p>In the last month, 3 experts released ratings on this stock with an average target price of $174.33.</p>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage"><strong>Click here for access</strong></a>.
&#x2A; An analyst from UBS persists with their Buy rating on Lam Research, maintaining a target price of $175. 
&#x2A; Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Lam Research with a target price of $158. 
&#x2A; An analyst from Citigroup has decided to maintain their Buy rating on Lam Research, which currently sits at a price target of $190. </p>
<p>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.</p>
<p>If you want to stay updated on the latest options trades for Lam Research, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.</p>

Metadata

Author:

Benzinga Insights

Image URL:

https://cdn.benzinga.com/files/imagecache/250x187xUP/images/story/2025/11/06/movers_3.jpg

Tickers:

LRCX

Updated At:

December 02, 2025 at 2:01 PM

Benzinga Channels:

Options, Markets

Benzinga Tags:

BZI-UOA

Teaser:

Benzinga Stocks:

LRCX (NASDAQ)

Benzinga Article ID:

49167587