Financial giants have made a conspicuous bullish move on Albemarle. Our analysis of options history for Albemarle ALB revealed 21 unusual trades.
Delving into the details, we found 38% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 17 were puts, with a value of $1,402,465, and 4 were calls, valued at $148,861.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $145.0 for Albemarle over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Albemarle stands at 1105.53, with a total volume reaching 2,326.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Albemarle, situated within the strike price corridor from $65.0 to $145.0, throughout the last 30 days.
Albemarle 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ALB | PUT | TRADE | NEUTRAL | 09/20/24 | $0.98 | $0.66 | $0.81 | $65.00 | $619.2K | 481 | 1 |
| ALB | PUT | SWEEP | BEARISH | 08/02/24 | $6.8 | $6.45 | $6.65 | $90.00 | $109.7K | 4.9K | 291 |
| ALB | PUT | SWEEP | BEARISH | 08/02/24 | $6.6 | $6.5 | $6.6 | $90.00 | $89.7K | 4.9K | 427 |
| ALB | PUT | SWEEP | BEARISH | 12/20/24 | $15.75 | $15.4 | $15.6 | $90.00 | $78.0K | 710 | 100 |
| ALB | PUT | SWEEP | BEARISH | 12/20/24 | $14.8 | $14.65 | $14.8 | $90.00 | $74.0K | 710 | 0 |
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.
In light of the recent options history for Albemarle, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Albemarle's Current Market Status
- Currently trading with a volume of 5,797,685, the ALB's price is down by -6.54%, now at $87.08.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 89 days.
What The Experts Say On Albemarle
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $119.8.
- Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Albemarle, targeting a price of $100.
- An analyst from Wells Fargo has revised its rating downward to Equal-Weight, adjusting the price target to $100.
- Reflecting concerns, an analyst from HSBC lowers its rating to Hold with a new price target of $95.
- An analyst from B of A Securities persists with their Buy rating on Albemarle, maintaining a target price of $126.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Albemarle with a target price of $178.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Albemarle options trades with real-time alerts from Benzinga Pro.
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