Deep-pocketed investors have adopted a bearish approach towards Live Nation Entertainment LYV, 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 LYV usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Live Nation Entertainment. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 20% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $331,775, and 8 are calls, amounting to $414,193.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $120.0 for Live Nation Entertainment, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Live Nation Entertainment's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Live Nation Entertainment's significant trades, within a strike price range of $95.0 to $120.0, over the past month.
Live Nation Entertainment Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LYV | PUT | SWEEP | BEARISH | 01/17/25 | $20.4 | $19.6 | $20.4 | $120.00 | $306.0K | 44 | 0 |
| LYV | CALL | TRADE | BEARISH | 07/19/24 | $9.0 | $8.6 | $8.6 | $95.00 | $105.7K | 5.2K | 132 |
| LYV | CALL | TRADE | BEARISH | 07/19/24 | $8.8 | $8.1 | $8.1 | $95.00 | $73.7K | 5.2K | 257 |
| LYV | CALL | SWEEP | NEUTRAL | 09/20/24 | $3.7 | $3.6 | $3.65 | $110.00 | $62.5K | 671 | 171 |
| LYV | CALL | SWEEP | NEUTRAL | 09/20/24 | $3.7 | $3.6 | $3.7 | $110.00 | $60.7K | 671 | 401 |
About Live Nation Entertainment
Live Nation is the largest live entertainment firm in the world, operating in 49 countries at the end of 2023 through its concert and ticketing platforms. Via either owning, operating, or holding exclusive booking rights, Live Nation controls or influences 373 venues, including the House of Blues. Live Nation also owns one of the largest ticketing services, Ticketmaster, which sold over 620 million tickets for over 10,000 clients in 2023. Live Nation also includes an artist management agency. This large live entertainment footprint helped Live Nation become one of the largest advertising and sponsorship platforms aimed at music fans.
Having examined the options trading patterns of Live Nation Entertainment, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Live Nation Entertainment
- With a trading volume of 1,045,293, the price of LYV is up by 1.38%, reaching $100.8.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 65 days from now.
Expert Opinions on Live Nation Entertainment
5 market experts have recently issued ratings for this stock, with a consensus target price of $119.6.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Live Nation Entertainment, targeting a price of $122.
- Showing optimism, an analyst from Redburn Atlantic upgrades its rating to Buy with a revised price target of $115.
- An analyst from Deutsche Bank has revised its rating downward to Buy, adjusting the price target to $120.
- Consistent in their evaluation, an analyst from Roth MKM keeps a Buy rating on Live Nation Entertainment with a target price of $120.
- Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Live Nation Entertainment with a target price of $121.
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 Live Nation Entertainment with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
