A Closer Look at Lyft's Options Market Dynamics

Whales with a lot of money to spend have taken a noticeably bullish stance on Lyft.

Looking at options history for Lyft LYFT we detected 10 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 30% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $207,379 and 4, calls, for a total amount of $552,410.

What's The Price Target?

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 $35.0 for Lyft over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Lyft stands at 2985.6, with a total volume reaching 4,334.00. 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 $12.0 to $35.0, throughout the last 30 days.

Lyft 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
LYFT CALL SWEEP BULLISH 06/21/24 $1.11 $1.07 $1.12 $20.00 $280.2K 6.8K 187
LYFT CALL TRADE BULLISH 05/17/24 $1.68 $1.65 $1.68 $17.00 $168.0K 2.4K 1.2K
LYFT CALL SWEEP BEARISH 05/17/24 $0.93 $0.92 $0.92 $19.00 $73.5K 10.5K 882
LYFT PUT SWEEP BULLISH 10/18/24 $3.05 $3.0 $3.0 $17.00 $56.7K 1.7K 0
LYFT PUT TRADE NEUTRAL 06/21/24 $1.58 $1.44 $1.51 $16.00 $45.3K 2.5K 0

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.

Following our analysis of the options activities associated with Lyft, we pivot to a closer look at the company's own performance.

Current Position of Lyft

  • With a volume of 6,180,137, the price of LYFT is down -4.05% at $16.81.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 0 days.

Professional Analyst Ratings for Lyft

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $18.333333333333332.

  • An analyst from Tigress Financial has decided to maintain their Buy rating on Lyft, which currently sits at a price target of $24.
  • An analyst from Morgan Stanley persists with their Equal-Weight rating on Lyft, maintaining a target price of $13.
  • An analyst from Wells Fargo persists with their Equal-Weight rating on Lyft, maintaining a target price of $18.

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.

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Posted In: OptionsMarketsBZI-UOA
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