What Are Whales Doing With Lululemon Athletica

What Are Whales Doing With Lululemon Athletica

Someone with a lot of money to spend has taken a bullish stance on Lululemon Athletica LULU.

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 LULU, 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 13 uncommon options trades for Lululemon Athletica.

This isn't normal.

The overall sentiment of these big-money traders is split between 61% bullish and 38%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $246,942, and 8 are calls, for a total amount of $349,556.

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 $250.0 to $420.0 for Lululemon Athletica over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Lululemon Athletica'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 Lululemon Athletica's whale activity within a strike price range from $250.0 to $420.0 in the last 30 days.

Lululemon Athletica 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
LULU PUT SWEEP BULLISH 10/21/22 $370.00 $116.5K 21 21
LULU CALL TRADE BULLISH 01/20/23 $330.00 $78.0K 90 35
LULU CALL TRADE BULLISH 10/21/22 $320.00 $55.8K 236 77
LULU CALL TRADE BULLISH 09/30/22 $300.00 $50.8K 29 20
LULU PUT SWEEP BEARISH 09/30/22 $320.00 $37.5K 39 35

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
LULU PUT SWEEP BULLISH 10/21/22 $370.00 $116.5K 21 21
LULU CALL TRADE BULLISH 01/20/23 $330.00 $78.0K 90 35
LULU CALL TRADE BULLISH 10/21/22 $320.00 $55.8K 236 77
LULU CALL TRADE BULLISH 09/30/22 $300.00 $50.8K 29 20
LULU PUT SWEEP BEARISH 09/30/22 $320.00 $37.5K 39 35

Where Is Lululemon Athletica Standing Right Now?

  • With a volume of 676,860, the price of LULU is down -0.34% at $313.11.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 93 days.

What The Experts Say On Lululemon Athletica:

  • Cowen & Co. has decided to maintain their Outperform rating on Lululemon Athletica, which currently sits at a price target of $512.
  • Morgan Stanley has decided to maintain their Overweight rating on Lululemon Athletica, which currently sits at a price target of $343.
  • Barclays has decided to maintain their Overweight rating on Lululemon Athletica, which currently sits at a price target of $446.
  • JP Morgan has decided to maintain their Overweight rating on Lululemon Athletica, which currently sits at a price target of $396.
  • Deutsche Bank has decided to maintain their Buy rating on Lululemon Athletica, which currently sits at a price target of $434.

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 Lululemon Athletica, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets