Deep-pocketed investors have adopted a bearish approach towards Lockheed Martin LMT, 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 LMT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 40 extraordinary options activities for Lockheed Martin. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 27% leaning bullish and 67% bearish. Among these notable options, 5 are puts, totaling $298,354, and 35 are calls, amounting to $4,938,389.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $370.0 and $600.0 for Lockheed Martin, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Lockheed Martin options trades today is 876.31 with a total volume of 20,046.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lockheed Martin's big money trades within a strike price range of $370.0 to $600.0 over the last 30 days.
Lockheed Martin 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LMT | CALL | SWEEP | BEARISH | 08/16/24 | $72.1 | $72.0 | $72.0 | $485.00 | $489.6K | 860 | 226 |
| LMT | CALL | SWEEP | BEARISH | 08/16/24 | $72.2 | $72.1 | $72.1 | $485.00 | $475.8K | 860 | 514 |
| LMT | CALL | SWEEP | BEARISH | 08/16/24 | $72.7 | $72.6 | $72.6 | $485.00 | $428.3K | 860 | 751 |
| LMT | CALL | SWEEP | BEARISH | 08/16/24 | $73.5 | $71.9 | $71.9 | $485.00 | $395.4K | 860 | 335 |
| LMT | CALL | SWEEP | NEUTRAL | 08/16/24 | $72.0 | $72.0 | $72.0 | $485.00 | $230.4K | 860 | 111 |
About Lockheed Martin
Lockheed Martin is the world's largest defense contractor and has dominated the Western market for high-end fighter aircraft since it won the F-35 Joint Strike Fighter program in 2001. Lockheed's largest segment is aeronautics, which derives upward of two-thirds of its revenue from the F-35. Lockheed's remaining segments are rotary and mission systems, mainly encompassing the Sikorsky helicopter business; missiles and fire control, which creates missiles and missile defense systems; and space systems, which produces satellites and receives equity income from the United Launch Alliance joint venture.
Current Position of Lockheed Martin
- Currently trading with a volume of 395,296, the LMT's price is up by 0.85%, now at $556.28.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 64 days.
Professional Analyst Ratings for Lockheed Martin
5 market experts have recently issued ratings for this stock, with a consensus target price of $564.6.
- An analyst from UBS has decided to maintain their Neutral rating on Lockheed Martin, which currently sits at a price target of $538.
- An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Lockheed Martin, which currently sits at a price target of $525.
- An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $600.
- An analyst from RBC Capital upgraded its action to Outperform with a price target of $600.
- An analyst from TD Cowen has elevated its stance to Buy, setting a new price target at $560.
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 Lockheed Martin options trades with real-time alerts from Benzinga Pro.
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