Deep-pocketed investors have adopted a bullish approach towards Lyft LYFT, 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 LYFT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Lyft. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 5 are puts, totaling $331,137, and 3 are calls, amounting to $112,284.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $16.0 to $25.0 for Lyft over the last 3 months.
Analyzing 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 Lyft's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lyft's substantial trades, within a strike price spectrum from $16.0 to $25.0 over the preceding 30 days.
Lyft 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LYFT | PUT | SWEEP | BEARISH | 04/19/24 | $17.00 | $192.5K | 12.2K | 2.0K |
| LYFT | PUT | SWEEP | BULLISH | 07/19/24 | $25.00 | $51.5K | 516 | 68 |
| LYFT | CALL | SWEEP | BEARISH | 07/19/24 | $18.00 | $46.2K | 6.9K | 183 |
| LYFT | CALL | TRADE | BULLISH | 06/21/24 | $19.00 | $37.7K | 5.7K | 148 |
| LYFT | PUT | TRADE | BULLISH | 05/17/24 | $18.00 | $29.5K | 103 | 286 |
About Lyft
Lyft is the second-largest ride-sharing service provider in the US 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.
Present Market Standing of Lyft
- With a trading volume of 7,478,240, the price of LYFT is down by -0.16%, reaching $18.28.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 52 days from now.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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