Deep-pocketed investors have adopted a bullish approach towards Lululemon Athletica LULU, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LULU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Lululemon Athletica. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 58% leaning bullish and 41% bearish. Among these notable options, 10 are puts, totaling $447,891, and 2 are calls, amounting to $93,470.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $410.0 and $420.0 for Lululemon Athletica, spanning the last three months.
Insights into Volume & Open Interest
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 Lululemon Athletica'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 Lululemon Athletica's whale activity within a strike price range from $410.0 to $420.0 in the last 30 days.
Lululemon Athletica Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LULU | PUT | SWEEP | BULLISH | 12/15/23 | $410.00 | $57.9K | 589 | 7 |
| LULU | PUT | SWEEP | BEARISH | 01/19/24 | $420.00 | $50.0K | 607 | 27 |
| LULU | PUT | TRADE | BEARISH | 01/19/24 | $420.00 | $50.0K | 607 | 27 |
| LULU | PUT | TRADE | BEARISH | 01/19/24 | $420.00 | $50.0K | 607 | 108 |
| LULU | PUT | SWEEP | BEARISH | 01/19/24 | $420.00 | $50.0K | 607 | 129 |
About Lululemon Athletica
Lululemon Athletica Inc. designs, distributes, and markets athletic apparel, footwear, and accessories for women, men, and girls. Lululemon offers pants, shorts, tops, and jackets for both leisure and athletic activities such as yoga and running. The company also sells fitness accessories, such as bags, yoga mats, and equipment. Lululemon sells its products through more than 670 company-owned stores in 19 countries, e-commerce, outlets, and wholesale accounts. The company was founded in 1998 and is based in Vancouver, Canada.
Having examined the options trading patterns of Lululemon Athletica, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Lululemon Athletica
- With a volume of 687,567, the price of LULU is up 0.69% at $416.51.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 24 days.
What Analysts Are Saying About Lululemon Athletica
In the last month, 1 experts released ratings on this stock with an average target price of $475.0.
- Reflecting concerns, an analyst from Evercore ISI Group lowers its rating to Outperform with a new price target of $475.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Lululemon Athletica with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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