Someone with a lot of money to spend has taken a bearish stance on Lockheed Martin LMT.
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 LMT, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 14 uncommon options trades for Lockheed Martin.
This isn't normal.
The overall sentiment of these big-money traders is split between 35% bullish and 64%, bearish.
Out of all of the special options we uncovered, 11 are puts, for a total amount of $605,082, and 3 are calls, for a total amount of $297,793.
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 $430.0 to $500.0 for Lockheed Martin over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Lockheed Martin options trades today is 255.46 with a total volume of 424.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lockheed Martin's big money trades within a strike price range of $430.0 to $500.0 over the last 30 days.
Lockheed Martin 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 |
|---|---|---|---|---|---|---|---|---|
| LMT | CALL | SWEEP | NEUTRAL | 09/15/23 | $450.00 | $161.9K | 28 | 5 |
| LMT | PUT | SWEEP | NEUTRAL | 06/16/23 | $465.00 | $113.2K | 225 | 24 |
| LMT | PUT | SWEEP | BEARISH | 06/16/23 | $430.00 | $103.3K | 262 | 76 |
| LMT | CALL | SWEEP | BULLISH | 01/19/24 | $500.00 | $94.6K | 1.2K | 0 |
| LMT | PUT | SWEEP | BEARISH | 06/16/23 | $440.00 | $70.7K | 345 | 128 |
Where Is Lockheed Martin Standing Right Now?
- With a volume of 744,042, the price of LMT is down -3.05% at $461.08.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 83 days.
What The Experts Say On Lockheed Martin:
- Citigroup has decided to maintain their Buy rating on Lockheed Martin, which currently sits at a price target of $579.
- Wells Fargo has decided to maintain their Underweight rating on Lockheed Martin, which currently sits at a price target of $419.
- JP Morgan has decided to maintain their Neutral rating on Lockheed Martin, which currently sits at a price target of $500.
- Credit Suisse has decided to maintain their Outperform rating on Lockheed Martin, which currently sits at a price target of $550.
- Bernstein has decided to maintain their Market Perform rating on Lockheed Martin, which currently sits at a price target of $496.
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 Lockheed Martin, 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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