Deep-pocketed investors have adopted a bullish approach towards Lennar LEN, 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 LEN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Lennar. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 2 are puts, totaling $106,743, and 7 are calls, amounting to $372,763.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $155.0 for Lennar during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Lennar options trades today is 298.0 with a total volume of 1,019.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lennar's big money trades within a strike price range of $55.0 to $155.0 over the last 30 days.
Lennar 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 |
|---|---|---|---|---|---|---|---|---|
| LEN | CALL | SWEEP | BULLISH | 02/16/24 | $145.00 | $123.0K | 293 | 150 |
| LEN | CALL | TRADE | BULLISH | 02/16/24 | $145.00 | $85.0K | 293 | 0 |
| LEN | PUT | TRADE | NEUTRAL | 02/16/24 | $155.00 | $53.5K | 221 | 0 |
| LEN | PUT | TRADE | BULLISH | 02/16/24 | $155.00 | $53.1K | 221 | 51 |
| LEN | CALL | SWEEP | BEARISH | 02/16/24 | $145.00 | $37.8K | 293 | 100 |
About Lennar
Based on the number of delivered homes, Lennar is the second-largest public homebuilder in the United States, behind D.R. Horton. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily construction and has invested in numerous housing-related technology startups.
After a thorough review of the options trading surrounding Lennar, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Lennar Standing Right Now?
- Trading volume stands at 405,260, with LEN's price up by 0.14%, positioned at $148.11.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 81 days.
What The Experts Say On Lennar
5 market experts have recently issued ratings for this stock, with a consensus target price of $149.4.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Lennar, targeting a price of $158.
- An analyst from RBC Capital persists with their Underperform rating on Lennar, maintaining a target price of $137.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Lennar with a target price of $165.
- An analyst from Jefferies downgraded its action to Hold with a price target of $117.
- An analyst from JMP Securities persists with their Market Outperform rating on Lennar, maintaining a target price of $170.
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.
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