Lyft Unusual Options Activity For March 20

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 21 uncommon options trades for Lyft.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 47%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $138,060, and 17 are calls, for a total amount of $723,645.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $2.5 and $20.0 for Lyft, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Lyft options trades today is 2208.88 with a total volume of 9,792.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Lyft's big money trades within a strike price range of $2.5 to $20.0 over the last 30 days.

Lyft Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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.

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

Present Market Standing of Lyft

• With a volume of 15,303,863, the price of LYFT is up 5.84% at $19.22.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 43 days.

Professional Analyst Ratings for Lyft

In the last month, 3 experts released ratings on this stock with an average target price of $21.666666666666668.

• In a positive move, an analyst from RBC Capital has upgraded their rating to Outperform and adjusted the price target to $23.
• An analyst from Argus Research has elevated its stance to Buy, setting a new price target at $20.
• Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Lyft with a target price of $22.

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.