Deep-pocketed investors have adopted a bullish approach towards Live Nation Entertainment LYV, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LYV usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Live Nation Entertainment. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 71% leaning bullish and 28% bearish. Among these notable options, 3 are puts, totaling $117,320, and 11 are calls, amounting to $748,334.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $85.0 to $105.0 for Live Nation Entertainment over the recent three 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 Live Nation Entertainment's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Live Nation Entertainment's substantial trades, within a strike price spectrum from $85.0 to $105.0 over the preceding 30 days.
Live Nation Entertainment Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LYV | CALL | SWEEP | BULLISH | 03/15/24 | $90.00 | $180.0K | 2.4K | 19 |
| LYV | CALL | SWEEP | BULLISH | 03/15/24 | $90.00 | $172.5K | 2.4K | 519 |
| LYV | CALL | SWEEP | BEARISH | 04/19/24 | $100.00 | $96.0K | 313 | 915 |
| LYV | CALL | TRADE | BEARISH | 04/19/24 | $100.00 | $60.0K | 313 | 422 |
| LYV | PUT | SWEEP | BULLISH | 10/18/24 | $87.50 | $59.8K | 0 | 156 |
About Live Nation Entertainment
Live Nation is the largest live entertainment firm in the world with over 670 million fans served in 48 countries in 2022 by the company's concert and ticketing platforms. Via either owning, operating, or holding exclusive booking rights, Live Nation controls over 338 venues including the House of Blues. Live Nation also owns one of the largest ticketing services, Ticketmaster, which sold over 550 million tickets for over 12,000 clients in 2022. Its artist management agencies have over 400 clients. This large live entertainment footprint helped Live Nation become one of the largest advertising and sponsorship platforms aimed at music fans. Liberty Media owns 31% of Live Nation, held under its Sirius XM tracking stock. Liberty plans to spin off its stake into a dedicated tracking stock.
After a thorough review of the options trading surrounding Live Nation Entertainment, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Live Nation Entertainment's Current Market Status
- With a trading volume of 4,131,302, the price of LYV is up by 6.33%, reaching $99.41.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 69 days from now.
Professional Analyst Ratings for Live Nation Entertainment
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $121.0.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Live Nation Entertainment, targeting a price of $124.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Live Nation Entertainment with a target price of $115.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Live Nation Entertainment with a target price of $120.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Live Nation Entertainment, which currently sits at a price target of $126.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Live Nation Entertainment, targeting a price of $120.
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.
If you want to stay updated on the latest options trades for Live Nation Entertainment, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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