This Is What Whales Are Betting On Lyft

Investors with a lot of money to spend have taken a bearish stance on Lyft LYFT.

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 LYFT, 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 10 uncommon options trades for Lyft.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $147,188, and 7 are calls, for a total amount of $296,335.

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 $2.5 and $22.0 for Lyft, spanning the last three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Lyft's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lyft's substantial trades, within a strike price spectrum from $2.5 to $22.0 over the preceding 30 days.

Lyft Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
LYFT CALL TRADE BEARISH 07/19/24 $0.93 $0.85 $0.87 $16.00 $60.9K 2.3K 727
LYFT PUT SWEEP BULLISH 06/14/24 $0.6 $0.53 $0.53 $14.50 $52.8K 1.0K 3.8K
LYFT PUT SWEEP BULLISH 05/16/25 $7.7 $7.6 $7.6 $22.00 $47.8K 308 67
LYFT CALL SWEEP BEARISH 12/19/25 $4.45 $4.3 $4.3 $17.00 $47.7K 924 115
LYFT PUT TRADE BULLISH 06/14/24 $0.58 $0.5 $0.51 $14.50 $46.4K 1.0K 4.7K

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.

Where Is Lyft Standing Right Now?

  • With a volume of 11,619,211, the price of LYFT is down -1.03% at $15.44.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 57 days.

What The Experts Say On Lyft

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.0.

  • An analyst from Canaccord Genuity has decided to maintain their Buy rating on Lyft, which currently sits at a price target of $23.
  • Showing optimism, an analyst from Loop Capital upgrades its rating to Buy with a revised price target of $20.
  • An analyst from Goldman Sachs has decided to maintain their Neutral rating on Lyft, which currently sits at a price target of $21.
  • Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Lyft, targeting a price of $18.
  • Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Lyft, targeting a price of $18.

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 Lyft options trades with real-time alerts from Benzinga Pro.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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