Investors with a lot of money to spend have taken a bearish stance on Lennar LEN.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LEN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 14 uncommon options trades for Lennar.
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, 7 are puts, for a total amount of $534,602, and 7 are calls, for a total amount of $631,044.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $155.0 for Lennar over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $120.0 to $155.0 in the last 30 days.
Lennar 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LEN | PUT | TRADE | BULLISH | 01/19/24 | $135.00 | $225.0K | 385 | 763 |
| LEN | CALL | SWEEP | BEARISH | 01/17/25 | $135.00 | $200.7K | 553 | 0 |
| LEN | CALL | SWEEP | BEARISH | 01/17/25 | $125.00 | $184.7K | 554 | 75 |
| LEN | CALL | TRADE | BEARISH | 01/17/25 | $155.00 | $124.0K | 294 | 89 |
| LEN | PUT | SWEEP | BULLISH | 01/17/25 | $145.00 | $86.7K | 19 | 122 |
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.
Having examined the options trading patterns of Lennar, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Lennar
- With a volume of 1,152,452, the price of LEN is up 0.92% at $141.82.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 1 days.
What The Experts Say On Lennar
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $141.0.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Lennar, targeting a price of $165.
- Reflecting concerns, an analyst from Jefferies lowers its rating to Hold with a new price target of $117.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Lennar options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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