Behind the Scenes of Lucid Group's Latest Options Trends

Investors with a lot of money to spend have taken a bullish stance on Lucid Group LCID.

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 LCID, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Lucid Group.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 25%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $29,835, and 7, calls, for a total amount of $201,727.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2.0 to $5.0 for Lucid Group during the past quarter.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Lucid Group's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Lucid Group's significant trades, within a strike price range of $2.0 to $5.0, over the past month.

Lucid Group Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Lucid Group

Lucid Group Inc is a technology and automotive company. It develops the next generation of electric vehicle (EV) technologies. It offers its own geographically distributed retail and service locations and through direct-to-consumer online and retail sales. It also boasts a product roadmap of future vehicle programs and technologies. It focuses on in-house hardware and software innovation, vertical integration, and a clean-sheet approach to engineering and design led to the development of the Lucid Air. The Lucid Air is a luxury sedan that redefines both the luxury car segment and the EV space. Its geographic segments include North America, the Middle East, and Other International.

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

Current Position of Lucid Group

• With a trading volume of 91,331,330, the price of LCID is up by 3.25%, reaching $2.5.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 34 days from now.

What The Experts Say On Lucid Group

3 market experts have recently issued ratings for this stock, with a consensus target price of $3.67.

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 Benchmark downgraded its action to Buy with a price target of $5. * In a positive move, an analyst from Morgan Stanley has upgraded their rating to Equal-Weight and adjusted the price target to $3. * An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $3.

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 Lucid Group, Benzinga Pro gives you real-time options trades alerts.