Investors with significant funds have taken a bearish position in Albemarle ALB, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in ALB usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 14 options transactions for Albemarle. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 42% being bullish and 57% bearish. Of all the options we discovered, 13 are puts, valued at $512,446, and there was a single call, worth $48,160.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $140.0 for Albemarle over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Albemarle options trades today is 2837.0 with a total volume of 2,175.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Albemarle's big money trades within a strike price range of $115.0 to $140.0 over the last 30 days.
Albemarle Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ALB | PUT | TRADE | BULLISH | 06/21/24 | $21.9 | $21.7 | $21.7 | $140.00 | $65.1K | 4.8K | 30 |
| ALB | PUT | TRADE | BULLISH | 06/21/24 | $12.05 | $12.0 | $12.0 | $125.00 | $54.0K | 1.4K | 81 |
| ALB | CALL | TRADE | BULLISH | 06/21/24 | $5.6 | $5.45 | $5.6 | $140.00 | $48.1K | 1.5K | 92 |
| ALB | PUT | SWEEP | NEUTRAL | 01/17/25 | $15.85 | $15.65 | $15.85 | $115.00 | $47.5K | 7.9K | 30 |
| ALB | PUT | TRADE | BEARISH | 09/20/24 | $23.2 | $23.0 | $23.2 | $135.00 | $46.4K | 255 | 20 |
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.
Present Market Standing of Albemarle
- Currently trading with a volume of 719,115, the ALB's price is up by 0.26%, now at $122.9.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 16 days.
Expert Opinions on Albemarle
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $149.0.
- An analyst from Berenberg upgraded its action to Buy with a price target of $160.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Albemarle, targeting a price of $145.
- An analyst from B of A Securities has elevated its stance to Buy, setting a new price target at $156.
- Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Albemarle with a target price of $135.
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 Albemarle 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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