High-rolling investors have positioned themselves bearish on Lowe's Companies LOW, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in LOW often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Lowe's Companies. This is not a typical pattern.
The sentiment among these major traders is split, with 0% bullish and 100% bearish. Among all the options we identified, there was one put, amounting to $68,200, and 7 calls, totaling $208,885.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $240.0 and $280.0 for Lowe's Companies, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Lowe's Companies's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Lowe's Companies's whale trades within a strike price range from $240.0 to $280.0 in the last 30 days.
Lowe's Companies Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LOW | PUT | SWEEP | NEUTRAL | 04/12/24 | $255.00 | $68.2K | 59 | 0 |
| LOW | CALL | TRADE | BEARISH | 04/19/24 | $240.00 | $34.8K | 3.7K | 17 |
| LOW | CALL | TRADE | BEARISH | 01/17/25 | $270.00 | $33.2K | 611 | 0 |
| LOW | CALL | SWEEP | BEARISH | 03/22/24 | $245.00 | $30.0K | 219 | 92 |
| LOW | CALL | SWEEP | BEARISH | 06/21/24 | $280.00 | $29.8K | 1.0K | 93 |
About Lowe's Companies
Lowe's is the second-largest home improvement retailer in the world, operating more than 1,700 stores in the United States, after the 2023 divestiture of its Canadian locations (RONA, Lowe's Canada, Réno-Dépôt, and Dick's Lumber). The firm's stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two thirds of products sold. Lowe's targets retail do-it-yourself (around 75% of sales) and do-it-for-me customers as well as commercial and professional business clients (around 25% of sales). We estimate Lowe's captures a high-single-digit share of the domestic home improvement market, based on U.S. Census data and management's market size estimates.
After a thorough review of the options trading surrounding Lowe's Companies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Lowe's Companies Standing Right Now?
- With a trading volume of 818,910, the price of LOW is up by 0.02%, reaching $261.05.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 60 days from now.
Expert Opinions on Lowe's Companies
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $250.2.
- In a cautious move, an analyst from Mizuho downgraded its rating to Buy, setting a price target of $280.
- An analyst from Oppenheimer has revised its rating downward to Perform, adjusting the price target to $230.
- An analyst from DA Davidson downgraded its action to Buy with a price target of $258.
- Consistent in their evaluation, an analyst from Loop Capital keeps a Hold rating on Lowe's Companies with a target price of $225.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Lowe's Companies with a target price of $258.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Lowe's Companies options trades with real-time alerts from Benzinga Pro.
© 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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