Investors with a lot of money to spend have taken a bullish stance on Albemarle ALB.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ALB, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 19 uncommon options trades for Albemarle.
This isn't normal.
The overall sentiment of these big-money traders is split between 52% bullish and 47%, bearish.
Out of all of the special options we uncovered, 15 are puts, for a total amount of $1,279,918, and 4 are calls, for a total amount of $135,380.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $180.0 for Albemarle over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Albemarle options trades today is 871.0 with a total volume of 689.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Albemarle's big money trades within a strike price range of $90.0 to $180.0 over the last 30 days.
Albemarle 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ALB | PUT | SWEEP | BEARISH | 06/21/24 | $180.00 | $280.7K | 734 | 60 |
| ALB | PUT | SWEEP | NEUTRAL | 02/09/24 | $105.00 | $223.6K | 2 | 0 |
| ALB | PUT | TRADE | BULLISH | 03/15/24 | $150.00 | $178.0K | 559 | 0 |
| ALB | PUT | TRADE | BULLISH | 03/15/24 | $145.00 | $148.5K | 1.1K | 101 |
| ALB | PUT | SWEEP | BEARISH | 03/15/24 | $155.00 | $70.6K | 601 | 30 |
About Albemarle
Albemarle is one of the world's largest lithium producers. In the lithium industry, the majority of demand comes from batteries, where lithium is used as the energy storage material, particularly in electric vehicles. Albemarle is a fully integrated lithium producer. Its upstream resources include salt brine deposits in Chile and the U.S. and two hard rock mines in Australia, both of which are joint ventures. The company operates lithium refining plants in Chile, the U.S., Australia, and China. Albemarle is a global leader in the production of bromine, used in flame retardants. It is also a major producer of oil refining catalysts.
Albemarle's Current Market Status
- With a trading volume of 1,346,595, the price of ALB is down by -4.43%, reaching $140.38.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 42 days from now.
Expert Opinions on Albemarle
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $138.5.
- Showing optimism, an analyst from B of A Securities upgrades its rating to Neutral with a revised price target of $149.
- In a cautious move, an analyst from Piper Sandler downgraded its rating to Underweight, setting a price target of $128.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Albemarle options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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