Deep-pocketed investors have adopted a bullish approach towards Albemarle ALB, 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 ALB 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 Albemarle. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 77% leaning bullish and 22% bearish. Among these notable options, 2 are puts, totaling $87,370, and 7 are calls, amounting to $763,860.
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 $60.0 and $180.0 for Albemarle, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Albemarle options trades today is 505.0 with a total volume of 346.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Albemarle's big money trades within a strike price range of $60.0 to $180.0 over the last 30 days.
Albemarle Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ALB | CALL | SWEEP | BULLISH | 03/15/24 | $60.00 | $454.0K | 4 | 0 |
| ALB | CALL | SWEEP | BULLISH | 03/15/24 | $140.00 | $104.0K | 819 | 106 |
| ALB | CALL | SWEEP | BEARISH | 03/15/24 | $180.00 | $56.0K | 324 | 100 |
| ALB | PUT | TRADE | BEARISH | 01/26/24 | $140.00 | $55.0K | 19 | 1 |
| ALB | CALL | SWEEP | BULLISH | 03/15/24 | $150.00 | $46.8K | 632 | 22 |
About Albemarle
Albemarle is one of the world's largest lithium producers. In the lithium industry, the majority of demand comes from batteries, where lithium is used as the energy storage material, particularly in electric vehicles. Albemarle is a fully integrated lithium producer. Its upstream resources include salt brine deposits in Chile and the U.S. and two hard rock mines in Australia, both of which are joint ventures. The company operates lithium refining plants in Chile, the U.S., Australia, and China. Albemarle is a global leader in the production of bromine, used in flame retardants. It is also a major producer of oil refining catalysts.
Having examined the options trading patterns of Albemarle, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Albemarle
- Currently trading with a volume of 788,937, the ALB's price is down by -0.32%, now at $148.46.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 56 days.
Expert Opinions on Albemarle
2 market experts have recently issued ratings for this stock, with a consensus target price of $138.5.
- An analyst from B of A Securities has elevated its stance to Neutral, setting a new price target at $149.
- Reflecting concerns, an analyst from Piper Sandler lowers its rating to Underweight with a new price target of $128.
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 Albemarle with Benzinga Pro for real-time alerts.
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