Lennar's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish stance on Lennar LEN.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LEN, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Lennar.

This isn't normal.

The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $197,630, and 3 are calls, for a total amount of $145,740.

Latest Startup Investment Opportunities:

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $152.5 and $170.0 for Lennar, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Lennar stands at 721.2, with a total volume reaching 1,166.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lennar, situated within the strike price corridor from $152.5 to $170.0, throughout the last 30 days.

Lennar Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Lennar

Lennar is one of the largest public homebuilders in the United States. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily and single-family for rent construction and has invested in numerous housing-related technology startups.

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

Present Market Standing of Lennar

• With a trading volume of 2,176,290, the price of LEN is up by 0.68%, reaching $152.92.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 55 days from now.

Expert Opinions on Lennar

3 market experts have recently issued ratings for this stock, with a consensus target price of $175.0.

• An analyst from Keefe, Bruyette & Woods has decided to maintain their Outperform rating on Lennar, which currently sits at a price target of $183.
• Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Lennar with a target price of $198.
• An analyst from Wedbush downgraded its action to Underperform with a price target of $144.

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 Lennar, Benzinga Pro gives you real-time options trades alerts.