Looking At Lyft's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Lyft LYFT.

And retail traders should know.

We noticed this today when the positions 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 LYFT, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 14 options trades for Lyft.

This isn't normal.

The overall sentiment of these big-money traders is split between 42% bullish and 50%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $94,299, and 13, calls, for a total amount of $808,043.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $9.5 to $22.0 for Lyft over the last 3 months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Lyft stands at 2832.64, with a total volume reaching 9,014.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lyft, situated within the strike price corridor from $9.5 to $22.0, throughout the last 30 days.

Lyft Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Lyft

Lyft is the second-largest ride-sharing service provider in the US and Canada, connecting riders and drivers over the Lyft app. Incorporated in 2013, Lyft offers a variety of rides via private vehicles, including traditional private rides, shared rides, and luxury ones. Besides ride-share, Lyft also has entered the bike- and scooter-share market to bring multimodal transportation options to users.

Following our analysis of the options activities associated with Lyft, we pivot to a closer look at the company's own performance.

Current Position of Lyft

• Currently trading with a volume of 12,495,023, the LYFT's price is up by 6.69%, now at $18.97.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 92 days.

Professional Analyst Ratings for Lyft

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $17.8.

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. * An analyst from Barclays persists with their Equal-Weight rating on Lyft, maintaining a target price of $20. * Consistent in their evaluation, an analyst from Jefferies keeps a Hold rating on Lyft with a target price of $13. * Consistent in their evaluation, an analyst from Roth MKM keeps a Neutral rating on Lyft with a target price of $16. * An analyst from Canaccord Genuity has decided to maintain their Buy rating on Lyft, which currently sits at a price target of $22. * Maintaining their stance, an analyst from Susquehanna continues to hold a Neutral rating for Lyft, targeting a price of $18.

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 Lyft options trades with real-time alerts from Benzinga Pro.