Investors with a lot of money to spend have taken a bearish stance on Lyft LYFT.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LYFT, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Lyft.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 37%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $1,161,402, and 5 are calls, for a total amount of $279,001.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $13.0 to $17.0 for Lyft over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Lyft stands at 1914.86, with a total volume reaching 1,742.00. 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 $13.0 to $17.0, throughout the last 30 days.
Lyft Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LYFT | PUT | SWEEP | NEUTRAL | 05/16/25 | $4.9 | $4.8 | $4.9 | $17.00 | $1.0M | 2.3K | 1 |
| LYFT | CALL | SWEEP | NEUTRAL | 07/19/24 | $0.42 | $0.4 | $0.42 | $15.00 | $105.2K | 7.4K | 1.2K |
| LYFT | CALL | TRADE | NEUTRAL | 01/16/26 | $3.55 | $3.35 | $3.45 | $17.00 | $86.2K | 1.5K | 253 |
| LYFT | PUT | SWEEP | BULLISH | 06/28/24 | $0.11 | $0.01 | $0.11 | $13.00 | $43.2K | 227 | 32 |
| LYFT | PUT | SWEEP | BEARISH | 05/16/25 | $3.6 | $3.5 | $3.6 | $15.00 | $33.1K | 919 | 2 |
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.
In light of the recent options history for Lyft, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Lyft
- With a volume of 4,355,182, the price of LYFT is down -2.08% at $13.88.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 50 days.
What Analysts Are Saying About Lyft
In the last month, 5 experts released ratings on this stock with an average target price of $21.2.
- Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $24.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $24.
- An analyst from BMO Capital has decided to maintain their Market Perform rating on Lyft, which currently sits at a price target of $19.
- Maintaining their stance, an analyst from Wedbush continues to hold a Neutral rating for Lyft, targeting a price of $19.
- An analyst from Fox Advisors upgraded its action to Outperform with a price target of $20.
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 Lyft with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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