Investors with a lot of money to spend have taken a bullish stance on Lululemon Athletica LULU.
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 LULU, 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 12 uncommon options trades for Lululemon Athletica.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 33%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $142,207, and 9 are calls, for a total amount of $408,087.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $480.0 for Lululemon Athletica over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Lululemon Athletica's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Lululemon Athletica's significant trades, within a strike price range of $200.0 to $480.0, over the past month.
Lululemon Athletica 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LULU | PUT | SWEEP | NEUTRAL | 07/19/24 | $159.95 | $158.35 | $159.15 | $470.00 | $63.6K | 4 | 0 |
| LULU | CALL | TRADE | BEARISH | 09/20/24 | $28.9 | $28.4 | $28.6 | $300.00 | $57.2K | 490 | 16 |
| LULU | CALL | TRADE | NEUTRAL | 06/21/24 | $26.2 | $19.1 | $22.3 | $290.00 | $55.7K | 178 | 0 |
| LULU | CALL | TRADE | BEARISH | 07/19/24 | $5.4 | $5.15 | $5.15 | $320.00 | $51.5K | 1.2K | 1 |
| LULU | PUT | SWEEP | NEUTRAL | 01/17/25 | $171.35 | $166.35 | $169.0 | $480.00 | $50.7K | 4 | 1 |
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 740,221, with LULU's price down by -0.31%, positioned at $309.81.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 69 days.
Professional Analyst Ratings for Lululemon Athletica
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $430.2.
- An analyst from TD Cowen persists with their Buy rating on Lululemon Athletica, maintaining a target price of $437.
- An analyst from BMO Capital has decided to maintain their Market Perform rating on Lululemon Athletica, which currently sits at a price target of $384.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on Lululemon Athletica, which currently sits at a price target of $463.
- An analyst from Stifel has decided to maintain their Buy rating on Lululemon Athletica, which currently sits at a price target of $410.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Lululemon Athletica with a target price of $457.
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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