Someone with a lot of money to spend has taken a bullish stance on Lowe's Companies LOW.
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 LOW, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Lowe's Companies.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $512,152, and there was 1 call, for a total amount of $35,040.
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 $180.0 to $240.0 for Lowe's Companies over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Lowe's Companies's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Lowe's Companies's whale trades within a strike price range from $180.0 to $240.0 in the last 30 days.
Lowe's Companies 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 |
|---|---|---|---|---|---|---|---|---|
| LOW | PUT | SWEEP | BULLISH | 01/19/24 | $210.00 | $118.6K | 365 | 60 |
| LOW | PUT | TRADE | BEARISH | 03/17/23 | $210.00 | $111.8K | 622 | 67 |
| LOW | PUT | SWEEP | NEUTRAL | 01/20/23 | $240.00 | $61.1K | 85 | 15 |
| LOW | PUT | TRADE | BEARISH | 01/20/23 | $240.00 | $60.4K | 85 | 30 |
| LOW | PUT | TRADE | NEUTRAL | 01/20/23 | $200.00 | $38.4K | 5.8K | 197 |
Where Is Lowe's Companies Standing Right Now?
- With a volume of 1,302,174, the price of LOW is down -0.25% at $200.88.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 55 days.
What The Experts Say On Lowe's Companies:
- Telsey Advisory Group has decided to maintain their Outperform rating on Lowe's Companies, which currently sits at a price target of $250.
- Wedbush has decided to maintain their Neutral rating on Lowe's Companies, which currently sits at a price target of $200.
- Goldman Sachs has decided to maintain their Buy rating on Lowe's Companies, which currently sits at a price target of $246.
- Credit Suisse downgraded its action to Neutral with a price target of $210
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 Lowe's Companies, 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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