Whales with a lot of money to spend have taken a noticeably bullish stance on Albemarle.
Looking at options history for Albemarle ALB we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 47% with bearish.
From the overall spotted trades, 13 are puts, for a total amount of $1,563,080 and 4, calls, for a total amount of $216,981.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $85.0 to $110.0 for Albemarle during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Albemarle options trades today is 995.17 with a total volume of 4,737.00.
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 $85.0 to $110.0 over the last 30 days.
Albemarle Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ALB | PUT | SWEEP | BEARISH | 11/15/24 | $18.0 | $18.0 | $18.0 | $110.00 | $691.2K | 2.9K | 384 |
| ALB | PUT | SWEEP | BEARISH | 11/15/24 | $18.15 | $17.95 | $18.0 | $110.00 | $345.6K | 2.9K | 384 |
| ALB | CALL | SWEEP | BEARISH | 10/25/24 | $9.25 | $9.0 | $9.0 | $85.00 | $135.0K | 10 | 150 |
| ALB | PUT | SWEEP | BEARISH | 11/15/24 | $18.0 | $18.0 | $18.0 | $110.00 | $126.0K | 2.9K | 646 |
| ALB | PUT | SWEEP | BEARISH | 11/15/24 | $18.0 | $17.9 | $18.0 | $110.00 | $75.6K | 2.9K | 716 |
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.
Following our analysis of the options activities associated with Albemarle, we pivot to a closer look at the company's own performance.
Current Position of Albemarle
- With a volume of 750,883, the price of ALB is down -1.52% at $93.69.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 16 days.
Professional Analyst Ratings for Albemarle
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $110.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Albemarle, targeting a price of $110.
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 Albemarle with Benzinga Pro for real-time alerts.
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