Deep-pocketed investors have adopted a bullish approach towards Lyft LYFT, 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 LYFT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Lyft. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 63% leaning bullish and 36% bearish. Among these notable options, 5 are puts, totaling $358,661, and 6 are calls, amounting to $320,677.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $28.0 for Lyft over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Lyft options trades today is 1488.29 with a total volume of 6,462.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lyft's big money trades within a strike price range of $15.0 to $28.0 over the last 30 days.
Lyft 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LYFT | PUT | SWEEP | BULLISH | 10/18/24 | $22.00 | $116.2K | 0 | 186 |
| LYFT | PUT | SWEEP | BULLISH | 06/21/24 | $19.00 | $99.0K | 516 | 0 |
| LYFT | CALL | SWEEP | BULLISH | 03/15/24 | $17.50 | $86.4K | 2.2K | 1.1K |
| LYFT | PUT | SWEEP | BULLISH | 10/18/24 | $22.00 | $60.6K | 0 | 290 |
| LYFT | CALL | SWEEP | BEARISH | 03/15/24 | $15.00 | $54.8K | 4.6K | 644 |
About Lyft
Lyft is the second-largest ride-sharing service provider in the US and Canada, connecting riders and drivers over the Lyft app. Incorporated in 2013, Lyft offers a variety of rides via private vehicles, including traditional private rides, shared rides, and luxury ones. Besides ride-share, Lyft also has entered the bike- and scooter-share market to bring multimodal transportation options to users.
Present Market Standing of Lyft
- With a volume of 5,626,131, the price of LYFT is up 2.43% at $17.27.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 57 days.
What The Experts Say On Lyft
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $16.8.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Lyft, targeting a price of $17.
- In a positive move, an analyst from Argus Research has upgraded their rating to Buy and adjusted the price target to $20.
- Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $17.
- An analyst from RBC Capital persists with their Sector Perform rating on Lyft, maintaining a target price of $17.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Lyft, which currently sits at a price target of $13.
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 Lyft 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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