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 22 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $72,114 and 20, calls, for a total amount of $1,548,111.
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 $115.0 to $150.0 for Lennar over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Lennar options trades today is 1094.57 with a total volume of 8,480.00.
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 $115.0 to $150.0 over 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 | CALL | SWEEP | BEARISH | 06/21/24 | $145.00 | $253.5K | 19 | 49 |
| LEN | CALL | SWEEP | BULLISH | 11/17/23 | $130.00 | $217.5K | 2.6K | 350 |
| LEN | CALL | TRADE | BEARISH | 11/17/23 | $125.00 | $200.4K | 1.4K | 1 |
| LEN | CALL | SWEEP | BEARISH | 06/21/24 | $150.00 | $101.6K | 41 | 179 |
| LEN | CALL | SWEEP | BULLISH | 11/17/23 | $130.00 | $85.0K | 2.6K | 100 |
Where Is Lennar Standing Right Now?
- With a volume of 360,892, the price of LEN is up 0.82% at $129.33.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 69 days.
What The Experts Say On Lennar:
- Citigroup has decided to maintain their Buy rating on Lennar, which currently sits at a price target of $148.
- BTIG has decided to maintain their Buy rating on Lennar, which currently sits at a price target of $148.
- Wedbush has decided to maintain their Neutral rating on Lennar, which currently sits at a price target of $123.
- JMP Securities downgraded its action to Market Outperform with a price target of $135
- Citigroup has decided to maintain their Buy rating on Lennar, which currently sits at a price target of $148.
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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