Financial giants have made a conspicuous bullish move on Lowe's Companies. Our analysis of options history for Lowe's Companies LOW revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $2,669,512, and 2 were calls, valued at $109,395.
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 $170.0 to $230.0 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 892.67 with a total volume of 13,927.00.
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 $170.0 to $230.0 over the last 30 days.
Lowe's Companies Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LOW | PUT | TRADE | NEUTRAL | 06/21/24 | $2.59 | $2.39 | $2.49 | $210.00 | $2.1M | 1.2K | 10.1K |
| LOW | PUT | SWEEP | BULLISH | 06/21/24 | $2.54 | $2.37 | $2.5 | $210.00 | $239.8K | 1.2K | 961 |
| LOW | PUT | TRADE | BULLISH | 09/20/24 | $1.18 | $1.08 | $1.08 | $170.00 | $151.2K | 1.5K | 1.4K |
| LOW | CALL | SWEEP | BEARISH | 06/21/24 | $9.3 | $9.1 | $9.1 | $230.00 | $79.1K | 924 | 200 |
| LOW | PUT | SWEEP | NEUTRAL | 06/21/24 | $2.49 | $2.46 | $2.49 | $210.00 | $55.5K | 1.2K | 1.1K |
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 high-single-digit share of the domestic home improvement market, based on U.S. Census data and management's market size estimates.
In light of the recent options history for Lowe's Companies, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Lowe's Companies
- Currently trading with a volume of 689,907, the LOW's price is down by -0.78%, now at $229.13.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 21 days.
Expert Opinions on Lowe's Companies
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $264.0.
- Reflecting concerns, an analyst from Zelman & Assoc lowers its rating to Neutral with a new price target of $265.
- In a cautious move, an analyst from Gordon Haskett downgraded its rating to Hold, setting a price target of $245.
- An analyst from Truist Securities persists with their Buy rating on Lowe's Companies, maintaining a target price of $271.
- An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Lowe's Companies, which currently sits at a price target of $275.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Lowe's Companies with Benzinga Pro for real-time alerts.
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