Whales with a lot of money to spend have taken a noticeably bullish stance on Lumen Technologies.
Looking at options history for Lumen Technologies LUMN we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $78,470 and 7, calls, for a total amount of $813,832.
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 $5.5 to $12.0 for Lumen Technologies during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Lumen Technologies's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lumen Technologies's substantial trades, within a strike price spectrum from $5.5 to $12.0 over the preceding 30 days.
Lumen Technologies Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LUMN | CALL | TRADE | BULLISH | 01/17/25 | $0.89 | $0.84 | $0.89 | $7.00 | $445.0K | 14.6K | 5.0K |
| LUMN | CALL | SWEEP | BULLISH | 01/17/25 | $1.25 | $1.24 | $1.25 | $6.00 | $138.7K | 5.9K | 1.2K |
| LUMN | CALL | SWEEP | BULLISH | 12/18/26 | $1.74 | $1.55 | $1.55 | $12.00 | $72.2K | 353 | 466 |
| LUMN | CALL | SWEEP | BULLISH | 09/13/24 | $0.4 | $0.37 | $0.4 | $5.50 | $60.1K | 4.7K | 1.6K |
| LUMN | CALL | SWEEP | BEARISH | 09/20/24 | $0.32 | $0.29 | $0.29 | $6.00 | $43.4K | 41.6K | 6.1K |
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.
Having examined the options trading patterns of Lumen Technologies, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Lumen Technologies
- With a trading volume of 10,882,342, the price of LUMN is up by 0.37%, reaching $5.46.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 47 days from now.
What Analysts Are Saying About Lumen Technologies
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $4.0.
- In a cautious move, an analyst from Wells Fargo downgraded its rating to Underweight, setting a price target of $4.
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.
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