Investors with a lot of money to spend have taken a bullish stance on Lyft LYFT.
And retail traders should know.
We noticed this today when the positions 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 LYFT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Lyft.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $42,415, and 8, calls, for a total amount of $476,908.
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 $12.0 and $14.5 for Lyft, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Lyft's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lyft's substantial trades, within a strike price spectrum from $12.0 to $14.5 over the preceding 30 days.
Lyft Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LYFT | CALL | SWEEP | BEARISH | 07/19/24 | $0.5 | $0.28 | $0.28 | $14.50 | $122.5K | 952 | 277 |
| LYFT | CALL | TRADE | BEARISH | 10/18/24 | $1.74 | $1.71 | $1.71 | $14.00 | $84.1K | 1.6K | 82 |
| LYFT | CALL | SWEEP | BULLISH | 07/19/24 | $0.31 | $0.17 | $0.28 | $14.50 | $54.4K | 952 | 5.4K |
| LYFT | CALL | TRADE | BULLISH | 07/12/24 | $0.58 | $0.21 | $0.58 | $13.50 | $50.1K | 6.2K | 3.7K |
| LYFT | CALL | TRADE | BULLISH | 01/16/26 | $4.95 | $4.5 | $4.9 | $12.00 | $49.0K | 1.1K | 47 |
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.
Following our analysis of the options activities associated with Lyft, we pivot to a closer look at the company's own performance.
Lyft's Current Market Status
- Trading volume stands at 13,520,104, with LYFT's price up by 4.68%, positioned at $13.54.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 26 days.
What Analysts Are Saying About Lyft
1 market experts have recently issued ratings for this stock, with a consensus target price of $17.0.
- An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Lyft, which currently sits at a price target of $17.
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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