Lyft's Options Frenzy: What You Need to Know

Deep-pocketed investors have adopted a bullish approach towards Lyft LYFT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LYFT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Lyft. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 5 are puts, totaling $321,917, and 4 are calls, amounting to $147,220.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $15.0 for Lyft over the recent three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Lyft's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Lyft's whale trades within a strike price range from $10.0 to $15.0 in the last 30 days.

Lyft Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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.

Where Is Lyft Standing Right Now?

• Trading volume stands at 14,329,315, with LYFT's price up by 3.65%, positioned at $11.21.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 82 days.

Professional Analyst Ratings for 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 $12.6.

• Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Lyft with a target price of $17.
• An analyst from Deutsche Bank has decided to maintain their Hold rating on Lyft, which currently sits at a price target of $11.
• An analyst from Susquehanna has decided to maintain their Neutral rating on Lyft, which currently sits at a price target of $10.
• Reflecting concerns, an analyst from Melius Research lowers its rating to Hold with a new price target of $15.
• An analyst from Citigroup has decided to maintain their Neutral rating on Lyft, which currently sits at a price target of $10.

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.