Low volatility seen for Lam Research
Chris McKhann | firstname.lastname@example.org
A block of 6,850 June 36 puts traded for $3.60, optionMONSTER's tracking systems show. Open interest in the strike at the beginning of the day was just 16 contracts, so this is a new position.
Less than a minute later, LRCX saw its largest stock trade when 315,100 shares changed hands for $35.8543--that is the exact total delta of the option position (6,850 x 100 x 0.46). So it appears that the trader is looking for the low volatility of the last week to continue going forward.
LRCX is up 0.45 percent to $35.61 in early afternoon trading. The semiconductor wafer-fabrication company has been in a tight range in the last week after a huge surge following its earnings results. Shares had been down at the three-year low of $31.17.