Financial giants have made a conspicuous bullish move on Lyft. Our analysis of options history for Lyft LYFT revealed 11 unusual trades.
Delving into the details, we found 63% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $164,232, and 7 were calls, valued at $1,166,313.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $14.0 and $27.0 for Lyft, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Lyft stands at 2059.73, with a total volume reaching 1,463.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lyft, situated within the strike price corridor from $14.0 to $27.0, throughout the last 30 days.
Lyft Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LYFT | CALL | TRADE | BULLISH | 07/19/24 | $2.2 | $2.17 | $2.2 | $17.00 | $770.0K | 1.6K | 23 |
| LYFT | CALL | TRADE | BEARISH | 05/17/24 | $2.76 | $2.67 | $2.67 | $14.00 | $114.0K | 286 | 2 |
| LYFT | CALL | SWEEP | BEARISH | 05/03/24 | $0.56 | $0.37 | $0.37 | $17.50 | $108.6K | 4.0K | 0 |
| LYFT | PUT | SWEEP | BULLISH | 05/16/25 | $12.05 | $11.95 | $12.0 | $27.00 | $73.2K | 0 | 3 |
| LYFT | CALL | SWEEP | BULLISH | 05/17/24 | $1.31 | $1.28 | $1.3 | $17.00 | $65.0K | 2.2K | 546 |
About Lyft
Lyft is the second-largest ride-sharing service provider in the us and Canada, connecting riders and drivers over the Lyft app. Incorporated in 2013, Lyft offers a variety of rides via private vehicles, including traditional private rides, shared rides, and luxury ones. Besides ride-share, Lyft also has entered the bike- and scooter-share market to bring multimodal transportation options to users.
Present Market Standing of Lyft
- With a volume of 12,069,459, the price of LYFT is down -2.48% at $16.5.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 13 days.
What The Experts Say On Lyft
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $21.0.
- An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Lyft, which currently sits at a price target of $18.
- An analyst from Tigress Financial persists with their Buy rating on Lyft, maintaining a target price of $24.
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 Lyft options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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