Investors with a lot of money to spend have taken a bearish stance on Albemarle ALB.
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 ALB, 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 Albemarle.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 50%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $66,600, and 6 are calls, for a total amount of $238,485.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $93.0 to $130.0 for Albemarle over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Albemarle options trades today is 197.67 with a total volume of 649.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Albemarle's big money trades within a strike price range of $93.0 to $130.0 over the last 30 days.
Albemarle Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ALB | CALL | TRADE | NEUTRAL | 01/16/26 | $19.35 | $18.65 | $19.05 | $110.00 | $59.0K | 119 | 46 |
| ALB | CALL | SWEEP | BEARISH | 09/20/24 | $5.1 | $5.05 | $5.1 | $100.00 | $51.0K | 523 | 252 |
| ALB | CALL | TRADE | NEUTRAL | 09/20/24 | $5.2 | $5.0 | $5.09 | $100.00 | $38.1K | 523 | 151 |
| ALB | PUT | TRADE | BEARISH | 08/16/24 | $37.55 | $36.6 | $37.55 | $130.00 | $37.5K | 92 | 10 |
| ALB | CALL | TRADE | BULLISH | 08/02/24 | $4.0 | $3.95 | $4.0 | $93.00 | $32.0K | 113 | 83 |
About Albemarle
Albemarle is one of the world's largest lithium producers. In the lithium industry, the majority of demand comes from batteries, where lithium is used as the energy storage material, particularly in electric vehicles. Albemarle is a fully integrated lithium producer. Its upstream resources include salt brine deposits in Chile and the US and two hard rock mines in Australia, both of which are joint ventures. The company operates lithium refining plants in Chile, the US, Australia, and China. Albemarle is a global leader in the production of bromine, used in flame retardants. It is also a major producer of oil refining catalysts.
Having examined the options trading patterns of Albemarle, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Albemarle's Current Market Status
- With a volume of 606,341, the price of ALB is up 1.85% at $92.56.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 6 days.
What The Experts Say On Albemarle
5 market experts have recently issued ratings for this stock, with a consensus target price of $127.6.
- Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Albemarle with a target price of $151.
- An analyst from Citigroup has decided to maintain their Neutral rating on Albemarle, which currently sits at a price target of $100.
- An analyst from UBS persists with their Neutral rating on Albemarle, maintaining a target price of $109.
- Reflecting concerns, an analyst from Wells Fargo lowers its rating to Equal-Weight with a new price target of $100.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Albemarle, targeting a price of $178.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Albemarle, Benzinga Pro gives you real-time options trades 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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