High-rolling investors have positioned themselves bullish on Lowe's Companies LOW, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in LOW often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Lowe's Companies. This is not a typical pattern.
The sentiment among these major traders is split, with 44% bullish and 33% bearish. Among all the options we identified, there was one put, amounting to $633,250, and 8 calls, totaling $293,421.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $210.0 to $250.0 for Lowe's Companies over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Lowe's Companies options trades today is 470.25 with a total volume of 372.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Lowe's Companies's big money trades within a strike price range of $210.0 to $250.0 over the last 30 days.
Lowe's Companies Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LOW | PUT | TRADE | BEARISH | 01/16/26 | $25.25 | $23.4 | $25.33 | $230.00 | $633.2K | 112 | 0 |
| LOW | CALL | TRADE | BULLISH | 09/20/24 | $13.6 | $13.15 | $13.45 | $220.00 | $67.2K | 380 | 4 |
| LOW | CALL | TRADE | NEUTRAL | 07/26/24 | $14.5 | $12.8 | $13.64 | $215.00 | $43.6K | 56 | 5 |
| LOW | CALL | TRADE | NEUTRAL | 07/19/24 | $11.7 | $10.85 | $11.23 | $217.50 | $33.6K | 195 | 13 |
| LOW | CALL | SWEEP | BEARISH | 08/16/24 | $17.9 | $16.45 | $17.46 | $210.00 | $33.5K | 134 | 0 |
About Lowe's Companies
Lowe's is the second-largest home improvement retailer in the world, operating more than 1,700 stores in the United States, after the 2023 divestiture of its Canadian locations (RONA, Lowe's Canada, Réno-Dépôt, and Dick's Lumber). The firm's stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two thirds of products sold. Lowe's targets retail do-it-yourself (around 75% of sales) and do-it-for-me customers as well as commercial and professional business clients (around 25% of sales). We estimate Lowe's captures a high-single-digit share of the domestic home improvement market, based on US Census data and management's market size estimates.
Following our analysis of the options activities associated with Lowe's Companies, we pivot to a closer look at the company's own performance.
Current Position of Lowe's Companies
- With a volume of 523,143, the price of LOW is up 3.17% at $227.74.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 40 days.
What The Experts Say On Lowe's Companies
In the last month, 1 experts released ratings on this stock with an average target price of $225.0.
- An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Lowe's Companies, which currently sits at a price target of $225.
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 Lowe's Companies with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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