A whale with a lot of money to spend has taken a noticeably bearish stance on Lennar.
Looking at options history for Lennar LEN we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $236,530 and 3, calls, for a total amount of $112,125.
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 $80.0 to $115.0 for Lennar over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Lennar'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 Lennar's whale activity within a strike price range from $80.0 to $115.0 in the last 30 days.
Lennar 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 |
|---|---|---|---|---|---|---|---|---|
| LEN | PUT | SWEEP | BEARISH | 01/16/26 | $115.00 | $64.3K | 1 | 32 |
| LEN | PUT | TRADE | NEUTRAL | 02/16/24 | $115.00 | $44.3K | 700 | 52 |
| LEN | CALL | TRADE | BULLISH | 02/16/24 | $115.00 | $39.5K | 186 | 49 |
| LEN | CALL | TRADE | BEARISH | 01/19/24 | $95.00 | $38.6K | 344 | 20 |
| LEN | CALL | TRADE | BULLISH | 02/16/24 | $80.00 | $33.9K | 116 | 10 |
Where Is Lennar Standing Right Now?
- With a volume of 926,480, the price of LEN is up 1.14% at $115.5.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 75 days.
What The Experts Say On Lennar:
- UBS has decided to maintain their Buy rating on Lennar, which currently sits at a price target of $159.
- RBC Capital has decided to maintain their Underperform rating on Lennar, which currently sits at a price target of $114.
- Citigroup has decided to maintain their Buy rating on Lennar, which currently sits at a price target of $139.
- JMP Securities has decided to maintain their Market Outperform rating on Lennar, which currently sits at a price target of $150.
- BTIG has decided to maintain their Buy rating on Lennar, which currently sits at a price target of $161.
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 Lennar, 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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