Investors with a lot of money to spend have taken a bullish stance on Lumen Technologies LUMN.
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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with LUMN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Lumen Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $260,398, and 4 are calls, for a total amount of $200,815.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $4.0 to $6.0 for Lumen Technologies over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Lumen Technologies stands at 3068.33, with a total volume reaching 9,197.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lumen Technologies, situated within the strike price corridor from $4.0 to $6.0, throughout the last 30 days.
Lumen Technologies Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LUMN | PUT | TRADE | BEARISH | 01/17/25 | $0.79 | $0.75 | $0.78 | $5.00 | $117.0K | 6.9K | 4.4K |
| LUMN | PUT | SWEEP | BULLISH | 01/17/25 | $0.81 | $0.76 | $0.77 | $5.00 | $78.8K | 6.9K | 2.0K |
| LUMN | CALL | TRADE | BEARISH | 12/18/26 | $3.75 | $3.7 | $3.7 | $4.00 | $73.6K | 1.5K | 200 |
| LUMN | CALL | TRADE | BEARISH | 12/18/26 | $3.75 | $3.7 | $3.7 | $4.00 | $66.2K | 1.5K | 400 |
| LUMN | CALL | SWEEP | BULLISH | 01/17/25 | $2.39 | $2.31 | $2.39 | $4.50 | $34.8K | 3.1K | 146 |
About Lumen Technologies
With 450,000 route miles of fiber, Lumen Technologies is one of the United States' largest telecommunications carriers serving global enterprises. Its merger with Level 3 in 2017 and divestiture of much of its incumbent local exchange carrier, or ILEC, business in 2022 has shifted the company's operations away from its legacy consumer business and toward enterprises (now about 75% of revenue). Lumen offers businesses a full menu of communications services, providing colocation and data center services, data transportation, and end-user phone and internet service. On the consumer side, Lumen provides broadband and phone service across 37 states, where it has 4.5 million broadband customers.
After a thorough review of the options trading surrounding Lumen Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Lumen Technologies's Current Market Status
- With a trading volume of 14,509,623, the price of LUMN is down by -2.17%, reaching $6.09.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 64 days from now.
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 Lumen Technologies, 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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