Lyft Unusual Options Activity For January 29

Investors with a lot of money to spend have taken a bullish stance on Lyft LYFT.

And retail traders should know.

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 LYFT, 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 8 uncommon options trades for Lyft.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $424,305, and 5 are calls, for a total amount of $706,680.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $20.0 for Lyft during the past quarter.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Lyft's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Lyft's significant trades, within a strike price range of $10.0 to $20.0, over the past month.

Lyft 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Lyft

Lyft is the second-largest ride-sharing service provider in the U.S. and Canada, connecting riders and drivers over the Lyft app. Incorporated in 2013, Lyft offers a variety of rides via private vehicles, including traditional private rides, shared rides, and luxury ones. Besides ride-share, Lyft also has entered the bike- and scooter-share market to bring multimodal transportation options to users.

Following our analysis of the options activities associated with Lyft, we pivot to a closer look at the company's own performance.

Lyft's Current Market Status

• With a trading volume of 4,682,609, the price of LYFT is down by -0.24%, reaching $12.57.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 15 days from now.

What Analysts Are Saying About Lyft

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $14.25.

• In a cautious move, an analyst from BMO Capital downgraded its rating to Market Perform, setting a price target of $15.
• In a cautious move, an analyst from Goldman Sachs downgraded its rating to Neutral, setting a price target of $15.
• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Neutral rating for Lyft, targeting a price of $15.
• An analyst from TD Cowen persists with their Market Perform rating on Lyft, maintaining a target price of $12.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Lyft with Benzinga Pro for real-time alerts.