Deep-pocketed investors have adopted a bearish approach towards Lululemon Athletica LULU, 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 LULU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 20 extraordinary options activities for Lululemon Athletica. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 7 are puts, totaling $325,930, and 13 are calls, amounting to $1,061,767.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $270.0 to $400.0 for Lululemon Athletica during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Lululemon Athletica stands at 550.4, with a total volume reaching 1,864.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lululemon Athletica, situated within the strike price corridor from $270.0 to $400.0, throughout the last 30 days.
Lululemon Athletica Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LULU | CALL | TRADE | BEARISH | 06/21/24 | $39.7 | $39.05 | $39.05 | $300.00 | $195.2K | 185 | 102 |
| LULU | CALL | TRADE | BULLISH | 06/21/24 | $12.65 | $12.15 | $12.5 | $350.00 | $167.5K | 989 | 178 |
| LULU | CALL | SWEEP | BEARISH | 06/21/24 | $8.4 | $8.1 | $8.1 | $360.00 | $162.3K | 1.1K | 280 |
| LULU | CALL | SWEEP | BULLISH | 07/19/24 | $12.7 | $11.8 | $12.59 | $360.00 | $126.9K | 590 | 100 |
| LULU | CALL | TRADE | BEARISH | 12/20/24 | $46.95 | $46.2 | $46.2 | $330.00 | $115.5K | 19 | 55 |
About Lululemon Athletica
Lululemon Athletica designs, distributes, and markets athletic apparel, footwear, and accessories for women, men, and girls. Lululemon offers pants, shorts, tops, and jackets for both leisure and athletic activities such as yoga and running. The company also sells fitness accessories, such as bags, yoga mats, and equipment. Lululemon sells its products through more than 700 company-owned stores in about 20 countries, e-commerce, outlets, and wholesale accounts. The company was founded in 1998 and is based in Vancouver, Canada.
Having examined the options trading patterns of Lululemon Athletica, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Lululemon Athletica's Current Market Status
- Trading volume stands at 1,011,678, with LULU's price down by -2.02%, positioned at $328.2.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 14 days.
Professional Analyst Ratings for Lululemon Athletica
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $395.0.
- An analyst from Barclays downgraded its action to Equal-Weight with a price target of $395.
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 Lululemon Athletica with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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