LRCX Options Chain Analysis

As of previous close (2026-10-02) · OPRA historical data

Spot $347.84 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.14

297k P / 259k C

Put/Call (Volume)

0.62

21k P / 34k C that session

30d ATM IV

61%

annualized implied move

Call wall

$400

10k contracts

Put wall

$230

23k contracts

Tail hedging

3.5×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.14 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $400 (10k contracts), 15% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $230 (23k contracts), 34% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.5× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 61% — the market prices very large moves; option premium is expensive.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-10-30. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-09	13k	14k	1.07	8k
2026-10-16	28k	44k	1.59	13k
2026-10-23	6k	4k	0.80	3k
2026-10-30	5k	8k	1.40	2k
2026-11-06	668	473	0.71	1k
2026-11-13	30	72	2.40	254
2026-11-20	21k	20k	0.98	8k
2026-12-18	43k	51k	1.18	3k
2027-01-15	75k	69k	0.91	2k
2027-03-19	13k	24k	1.79	1k
2027-06-17	15k	26k	1.65	910
2027-09-17	1k	5k	5.10	150
2028-01-21	18k	16k	0.86	227
2028-06-16	429	784	1.83	49
2028-12-15	516	673	1.30	41
2029-01-19	489	686	1.40	78

Source: Cboe end-of-session option chains, summarized after each US market close and published from the following trading day — OPRA historical data. Under the OPRA plan options data becomes historical, and freely publishable, at the opening of the next trading session; data from the session in progress is never displayed or served here. Open interest is exchange-reported once a day. Research, not investment advice.