Spotlight on Albemarle: Analyzing the Surge in Options Activity

Deep-pocketed investors have adopted a bearish approach towards Albemarle ALB, 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 ALB usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Albemarle. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 31% leaning bullish and 68% bearish. Among these notable options, 8 are puts, totaling $353,340, and 8 are calls, amounting to $406,720.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $137.0 for Albemarle over the recent three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Albemarle's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Albemarle's significant trades, within a strike price range of $75.0 to $137.0, over the past month.

Albemarle Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
ALB CALL TRADE NEUTRAL 09/20/24 $59.8 $56.05 $57.74 $75.00 $115.4K 54 0
ALB PUT SWEEP BEARISH 03/21/25 $25.7 $25.1 $25.7 $135.00 $89.9K 129 44
ALB CALL SWEEP BEARISH 05/17/24 $7.2 $7.1 $7.1 $135.00 $80.9K 689 255
ALB PUT SWEEP BULLISH 05/17/24 $0.7 $0.5 $0.7 $95.00 $54.7K 8.1K 1.0K
ALB PUT SWEEP BULLISH 09/20/24 $9.1 $8.9 $8.9 $110.00 $53.4K 1.1K 1

About Albemarle

Albemarle is one of the world's largest lithium producers. In the lithium industry, the majority of demand comes from batteries, where lithium is used as the energy storage material, particularly in electric vehicles. Albemarle is a fully integrated lithium producer. Its upstream resources include salt brine deposits in Chile and the U.S. and two hard rock mines in Australia, both of which are joint ventures. The company operates lithium refining plants in Chile, the U.S., Australia, and China. Albemarle is a global leader in the production of bromine, used in flame retardants. It is also a major producer of oil refining catalysts.

In light of the recent options history for Albemarle, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Albemarle's Current Market Status

  • Currently trading with a volume of 1,950,460, the ALB's price is up by 1.55%, now at $129.63.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 20 days.

What Analysts Are Saying About Albemarle

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $151.6.

  • In a positive move, an analyst from Berenberg has upgraded their rating to Buy and adjusted the price target to $160.
  • Consistent in their evaluation, an analyst from Loop Capital keeps a Buy rating on Albemarle with a target price of $162.
  • An analyst from Citigroup persists with their Neutral rating on Albemarle, maintaining a target price of $135.
  • An analyst from B of A Securities upgraded its action to Buy with a price target of $156.
  • An analyst from Wells Fargo has decided to maintain their Overweight rating on Albemarle, which currently sits at a price target of $145.

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 Albemarle with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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