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 12 uncommon options trades for Lyft.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 41%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $609,758, and 3 are calls, for a total amount of $558,850.
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Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.0 to $15.0 for Lyft over the recent three months.
Analyzing Volume & Open Interest
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 $8.0 to $15.0 over the preceding 30 days.
Lyft Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LYFT | CALL | TRADE | BULLISH | 07/26/24 | $0.26 | $0.22 | $0.25 | $13.00 | $462.1K | 6.1K | 24.3K |
| LYFT | PUT | SWEEP | BEARISH | 08/16/24 | $1.4 | $1.37 | $1.4 | $12.50 | $112.0K | 128 | 1.0K |
| LYFT | PUT | TRADE | NEUTRAL | 01/17/25 | $2.21 | $2.19 | $2.2 | $12.50 | $101.6K | 7.1K | 470 |
| LYFT | PUT | SWEEP | BEARISH | 01/17/25 | $2.2 | $2.0 | $2.2 | $12.50 | $99.8K | 7.1K | 1.3K |
| LYFT | PUT | SWEEP | BEARISH | 01/17/25 | $2.2 | $2.18 | $2.2 | $12.50 | $82.0K | 7.1K | 844 |
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.
In light of the recent options history for Lyft, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Lyft's Current Market Status
- Currently trading with a volume of 22,036,925, the LYFT's price is down by -1.67%, now at $12.38.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 14 days.
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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