Someone with a lot of money to spend has taken a bearish stance on Live Nation Entertainment LYV.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with LYV, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 14 options trades for Live Nation Entertainment.
This isn't normal.
The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $28,820, and 13, calls, for a total amount of $583,000..
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 $75.0 for Live Nation Entertainment over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Live Nation Entertainment options trades today is 1025.5 with a total volume of 14,749.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Live Nation Entertainment's big money trades within a strike price range of $65.0 to $75.0 over the last 30 days.
Live Nation Entertainment Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LYV | CALL | TRADE | NEUTRAL | 01/20/23 | $75.00 | $92.2K | 715 | 484 |
| LYV | CALL | SWEEP | BULLISH | 01/20/23 | $75.00 | $65.2K | 715 | 279 |
| LYV | CALL | TRADE | BULLISH | 01/20/23 | $75.00 | $60.3K | 715 | 134 |
| LYV | CALL | TRADE | NEUTRAL | 01/20/23 | $75.00 | $59.8K | 715 | 1.4K |
| LYV | CALL | TRADE | BULLISH | 01/20/23 | $75.00 | $41.8K | 715 | 1.6K |
Where Is Live Nation Entertainment Standing Right Now?
- With a volume of 287,486, the price of LYV is up 0.9% at $72.5.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 96 days.
What The Experts Say On Live Nation Entertainment:
- Morgan Stanley has decided to maintain their Equal-Weight rating on Live Nation Entertainment, which currently sits at a price target of $95.
- Goldman Sachs has decided to maintain their Buy rating on Live Nation Entertainment, which currently sits at a price target of $112.
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 Live Nation Entertainment, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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