Deep-pocketed investors have adopted a bearish approach towards Lowe's Companies LOW, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LOW usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Lowe's Companies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 33% bearish. Among these notable options, 6 are puts, totaling $297,188, and 3 are calls, amounting to $106,068.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $220.0 to $270.0 for Lowe's Companies over the recent three months.
Analyzing Volume & Open Interest
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 $220.0 to $270.0 in the last 30 days.
Lowe's Companies 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LOW | PUT | SWEEP | BEARISH | 10/25/24 | $9.05 | $8.25 | $8.73 | $265.00 | $53.8K | 9 | 60 |
| LOW | PUT | SWEEP | BULLISH | 10/25/24 | $12.85 | $11.6 | $11.6 | $270.00 | $52.2K | 0 | 204 |
| LOW | PUT | SWEEP | BEARISH | 10/25/24 | $11.9 | $10.0 | $12.55 | $270.00 | $49.9K | 0 | 40 |
| LOW | PUT | TRADE | NEUTRAL | 10/25/24 | $12.35 | $11.4 | $11.86 | $270.00 | $48.6K | 0 | 121 |
| LOW | PUT | TRADE | BULLISH | 10/25/24 | $12.75 | $11.95 | $11.95 | $270.00 | $47.8K | 0 | 80 |
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.
In light of the recent options history for Lowe's Companies, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Lowe's Companies Standing Right Now?
- With a volume of 1,810,893, the price of LOW is down -0.21% at $260.44.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 60 days.
Professional Analyst Ratings for Lowe's Companies
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $265.0.
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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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