Financial giants have made a conspicuous bearish move on Lyft. Our analysis of options history for Lyft LYFT revealed 28 unusual trades.
Delving into the details, we found 39% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 15 were puts, with a value of $714,491, and 13 were calls, valued at $2,529,240.
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Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $12.0 to $25.0 for Lyft over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Lyft's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Lyft's significant trades, within a strike price range of $12.0 to $25.0, over the past month.
Lyft Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LYFT | CALL | TRADE | BEARISH | 04/12/24 | $0.5 | $0.48 | $0.48 | $19.50 | $960.0K | 1.7K | 20.0K |
| LYFT | CALL | TRADE | BEARISH | 04/12/24 | $0.49 | $0.47 | $0.47 | $19.50 | $940.0K | 1.7K | 40.0K |
| LYFT | CALL | SWEEP | BEARISH | 01/17/25 | $8.0 | $7.95 | $7.95 | $12.50 | $186.8K | 5.6K | 235 |
| LYFT | PUT | TRADE | BULLISH | 09/20/24 | $4.75 | $4.7 | $4.7 | $21.00 | $80.3K | 69 | 172 |
| LYFT | CALL | SWEEP | BEARISH | 05/17/24 | $2.5 | $2.21 | $2.5 | $18.00 | $75.0K | 1.4K | 300 |
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.
Lyft's Current Market Status
- With a volume of 6,545,271, the price of LYFT is down -2.75% at $18.71.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 30 days.
What Analysts Are Saying About 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 RBC Capital has upgraded their rating to Outperform and adjusted the price target to $23.
- An analyst from Piper Sandler persists with their Overweight rating on Lyft, maintaining a target price of $22.
- In a positive move, an analyst from Argus Research has upgraded their rating to Buy and adjusted the price target to $20.
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 Lyft, Benzinga Pro gives you real-time options trades alerts.
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