Lowe's Whale Trades For August 17

Lowe's Whale Trades For August 17

 

Someone with a lot of money to spend has taken a bearish stance on Lowe's Companies LOW.

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with LOW, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 21 uncommon options trades for Lowe's Companies.

This isn't normal.

The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $517,840, and 11 are calls, for a total amount of $568,909.

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 $160.0 to $235.0 for Lowe's Companies over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Lowe's Companies options trades today is 860.11 with a total volume of 6,572.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Lowe's Companies's big money trades within a strike price range of $160.0 to $235.0 over the last 30 days.

Lowe's Companies Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
LOW CALL SWEEP NEUTRAL 01/19/24 $220.00 $65.4K 1.1K 237
LOW CALL TRADE BEARISH 01/19/24 $220.00 $65.4K 1.1K 177
LOW CALL SWEEP NEUTRAL 01/19/24 $220.00 $65.4K 1.1K 114
LOW CALL TRADE BEARISH 01/19/24 $220.00 $65.3K 1.1K 445
LOW CALL SWEEP NEUTRAL 01/19/24 $220.00 $65.2K 1.1K 267

Where Is Lowe's Companies Standing Right Now?

  • With a volume of 4,523,618, the price of LOW is up 0.88% at $216.0.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 0 days.

What The Experts Say On Lowe's Companies:

  • JP Morgan has decided to maintain their Neutral rating on Lowe's Companies, which currently sits at a price target of $210.
  • Morgan Stanley has decided to maintain their Overweight rating on Lowe's Companies, which currently sits at a price target of $270.
  • Citigroup downgraded its action to Neutral with a price target of $205
  • Wells Fargo has decided to maintain their Overweight rating on Lowe's Companies, which currently sits at a price target of $220.

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 Lowe's Companies, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets