Financial giants have made a conspicuous bearish move on Albemarle. Our analysis of options history for Albemarle ALB revealed 9 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $191,625, and 7 were calls, valued at $266,002.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $110.0 to $185.0 for Albemarle during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Albemarle stands at 323.22, with a total volume reaching 603.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Albemarle, situated within the strike price corridor from $110.0 to $185.0, throughout the last 30 days.
Albemarle 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 |
|---|---|---|---|---|---|---|---|---|
| ALB | PUT | SWEEP | BEARISH | 09/20/24 | $135.00 | $128.5K | 180 | 53 |
| ALB | CALL | SWEEP | BULLISH | 03/28/24 | $128.00 | $79.6K | 84 | 176 |
| ALB | PUT | TRADE | BULLISH | 06/21/24 | $185.00 | $63.1K | 319 | 10 |
| ALB | CALL | SWEEP | NEUTRAL | 03/15/24 | $110.00 | $41.3K | 767 | 30 |
| ALB | CALL | SWEEP | BULLISH | 01/16/26 | $135.00 | $32.2K | 29 | 11 |
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.
Following our analysis of the options activities associated with Albemarle, we pivot to a closer look at the company's own performance.
Albemarle's Current Market Status
- Currently trading with a volume of 1,206,443, the ALB's price is up by 0.65%, now at $119.1.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 51 days.
Expert Opinions on Albemarle
5 market experts have recently issued ratings for this stock, with a consensus target price of $147.0.
- An analyst from Wells Fargo persists with their Overweight rating on Albemarle, maintaining a target price of $135.
- An analyst from Mizuho persists with their Neutral rating on Albemarle, maintaining a target price of $115.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Albemarle with a target price of $188.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Albemarle, targeting a price of $138.
- An analyst from Keybanc has decided to maintain their Overweight rating on Albemarle, which currently sits at a price target of $159.
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 Albemarle, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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