Mixed options sentiment in Lam Research (LRCX), with shares up $6.74, or 2.89%, near $240.20. Options volume relatively light with 25k contracts traded and calls leading puts for a put/call ratio of 0.84, compared to a typical level near 1.02. Implied volatility (IV30) dropped 0.5 near 56.68,in the top quartile of the past year, suggesting an expected daily move of $8.58. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Summit Insights.
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