Deep-pocketed investors have adopted a bullish approach towards Lowe's Companies LOW, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LOW usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Lowe's Companies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 7 are puts, totaling $301,458, and 5 are calls, amounting to $350,135.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $180.0 to $250.0 for Lowe's Companies over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Lowe's Companies options trades today is 691.62 with a total volume of 999.00.
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 $180.0 to $250.0 over the last 30 days.
Lowe's Companies Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LOW | CALL | TRADE | BULLISH | 01/19/24 | $210.00 | $163.4K | 2.2K | 207 |
| LOW | CALL | TRADE | BULLISH | 01/26/24 | $180.00 | $78.5K | 0 | 20 |
| LOW | PUT | SWEEP | BEARISH | 06/20/25 | $180.00 | $61.0K | 6 | 109 |
| LOW | PUT | TRADE | BULLISH | 02/16/24 | $220.00 | $54.8K | 1.2K | 110 |
| LOW | CALL | SWEEP | BULLISH | 06/20/25 | $250.00 | $48.4K | 0 | 51 |
About Lowe's Companies
Lowe's is the second-largest home improvement retailer in the world, operating more than 1,700 stores in the United States, after the 2023 divestiture of its Canadian locations (RONA, Lowe's Canada, Réno-Dépôt, and Dick's Lumber). The firm's stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two thirds of products sold. Lowe's targets retail do-it-yourself (around 75% of sales) and do-it-for-me customers as well as commercial and professional business clients (around 25% of sales). We estimate Lowe's captures a low-double-digit share of the domestic home improvement market, based on U.S. Census data and management's market size estimates.
Where Is Lowe's Companies Standing Right Now?
- Trading volume stands at 1,136,246, with LOW's price down by -0.99%, positioned at $218.25.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 42 days.
What Analysts Are Saying About Lowe's Companies
In the last month, 4 experts released ratings on this stock with an average target price of $241.5.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Lowe's Companies with a target price of $229.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Lowe's Companies, which currently sits at a price target of $245.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Lowe's Companies with a target price of $252.
- An analyst from Stifel downgraded its action to Hold with a price target of $240.
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 Lowe's Companies 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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