This Is What Whales Are Betting On 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 11 uncommon options trades for Lululemon Athletica.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $304,482, and 6 are calls, for a total amount of $222,084.

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 $280.0 to $350.0 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 $280.0 to $350.0 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 TRADE BULLISH 03/24/23 $300.00 $117.5K 180 407
LULU PUT SWEEP BEARISH 06/16/23 $310.00 $80.0K 411 40
LULU CALL TRADE BULLISH 01/19/24 $350.00 $54.0K 441 20
LULU PUT SWEEP BEARISH 04/21/23 $310.00 $51.0K 223 27
LULU CALL TRADE BULLISH 04/28/23 $300.00 $40.2K 1 20

Where Is Lululemon Athletica Standing Right Now?

  • With a volume of 724,796, the price of LULU is up 2.75% at $301.53.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 7 days.

What The Experts Say On Lululemon Athletica:

  • Baird has decided to maintain their Outperform rating on Lululemon Athletica, which currently sits at a price target of $410.
  • Telsey Advisory Group downgraded its action to Outperform with a price target of $425
  • Redburn Partners downgraded its action to Sell with a price target of $257

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.

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Posted In: OptionsMarketsBZI-UOA
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