Check Out What Whales Are Doing With LYFT

Check Out What Whales Are Doing With LYFT

Someone with a lot of money to spend has taken a bullish stance on Lyft LYFT.

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 LYFT, 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 12 uncommon options trades for Lyft.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $85,110, and 9 are calls, for a total amount of $472,786.

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 $17.5 to $35.0 for Lyft 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 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 activity within a strike price range from $17.5 to $35.0 in the last 30 days.

Lyft 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
LYFT CALL SWEEP BULLISH 01/20/23 $20.00 $158.1K 32.3K 886
LYFT CALL SWEEP BULLISH 09/30/22 $19.00 $77.8K 1.0K 140
LYFT CALL TRADE BULLISH 10/21/22 $17.50 $42.8K 7.6K 446
LYFT CALL TRADE NEUTRAL 01/20/23 $20.00 $40.3K 32.3K 1.0K
LYFT CALL TRADE BEARISH 01/20/23 $20.00 $36.8K 32.3K 231

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
LYFT CALL SWEEP BULLISH 01/20/23 $20.00 $158.1K 32.3K 886
LYFT CALL SWEEP BULLISH 09/30/22 $19.00 $77.8K 1.0K 140
LYFT CALL TRADE BULLISH 10/21/22 $17.50 $42.8K 7.6K 446
LYFT CALL TRADE NEUTRAL 01/20/23 $20.00 $40.3K 32.3K 1.0K
LYFT CALL TRADE BEARISH 01/20/23 $20.00 $36.8K 32.3K 231

Where Is Lyft Standing Right Now?

  • With a volume of 4,630,384, the price of LYFT is up 0.88% at $18.27.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 50 days.

What The Experts Say On Lyft:

  • Guggenheim has decided to maintain their Buy rating on Lyft, which currently sits at a price target of $28.
  • B of A Securities downgraded its action to Underperform with a price target of $14

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

Posted In: BZI-UOAOptionsMarkets