Investors with a lot of money to spend have taken a bearish stance on Lowe's Companies LOW.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with LOW, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 12 options trades for Lowe's Companies.
This isn't normal.
The overall sentiment of these big-money traders is split between 16% bullish and 66%, bearish.
Out of all of the options we uncovered, 11 are puts, for a total amount of $598,480, and there was 1 call, for a total amount of $216,000.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $230.0 to $250.0 for Lowe's Companies during the past quarter.
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 Lowe's Companies'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 Lowe's Companies's whale trades within a strike price range from $230.0 to $250.0 in 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 | CALL | TRADE | BULLISH | 10/18/24 | $5.4 | $5.0 | $5.4 | $250.00 | $216.0K | 2.0K | 412 |
| LOW | PUT | TRADE | NEUTRAL | 10/18/24 | $13.2 | $12.75 | $12.95 | $250.00 | $72.5K | 423 | 166 |
| LOW | PUT | TRADE | BEARISH | 10/18/24 | $13.25 | $12.95 | $13.14 | $250.00 | $72.2K | 423 | 110 |
| LOW | PUT | SWEEP | BEARISH | 10/18/24 | $13.05 | $12.9 | $13.05 | $250.00 | $71.7K | 423 | 0 |
| LOW | PUT | SWEEP | NEUTRAL | 10/18/24 | $12.0 | $11.65 | $11.81 | $250.00 | $65.6K | 423 | 280 |
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.
After a thorough review of the options trading surrounding Lowe's Companies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Lowe's Companies
- With a volume of 462,078, the price of LOW is down -0.52% at $241.11.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 89 days.
Expert Opinions on Lowe's Companies
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $240.4.
- Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Market Perform rating for Lowe's Companies, targeting a price of $230.
- An analyst from Telsey Advisory Group persists with their Market Perform rating on Lowe's Companies, maintaining a target price of $230.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Lowe's Companies, targeting a price of $250.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Lowe's Companies, which currently sits at a price target of $262.
- Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Lowe's Companies with a target price of $230.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Lowe's Companies, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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