Financial giants have made a conspicuous bearish move on Lyft. Our analysis of options history for Lyft LYFT revealed 9 unusual trades.
Delving into the details, we found 22% of traders were bullish, while 77% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $405,015, and 3 were calls, valued at $137,472.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $22.0 for Lyft during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Lyft stands at 1001.6, with a total volume reaching 6,852.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lyft, situated within the strike price corridor from $15.0 to $22.0, throughout the last 30 days.
Lyft 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LYFT | PUT | SWEEP | NEUTRAL | 10/18/24 | $18.00 | $131.0K | 11 | 1.2K |
| LYFT | PUT | SWEEP | BULLISH | 05/16/25 | $20.00 | $72.9K | 1.0K | 152 |
| LYFT | CALL | TRADE | BULLISH | 07/19/24 | $22.00 | $59.1K | 1.3K | 3 |
| LYFT | PUT | SWEEP | BEARISH | 10/18/24 | $18.00 | $58.6K | 11 | 694 |
| LYFT | CALL | TRADE | BEARISH | 04/19/24 | $15.00 | $53.1K | 1.7K | 104 |
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.
After a thorough review of the options trading surrounding Lyft, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Lyft
- Trading volume stands at 2,321,186, with LYFT's price up by 0.2%, positioned at $20.2.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 38 days.
What The Experts Say On Lyft
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $21.666666666666668.
- In a positive move, an analyst from Argus Research has upgraded their rating to Buy and adjusted the price target to $20.
- An analyst from RBC Capital upgraded its action to Outperform with a price target of $23.
- An analyst from Piper Sandler persists with their Overweight rating on Lyft, maintaining 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.
© 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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