Investors with a lot of money to spend have taken a bearish stance on Lyft (NASDAQ:LYFT).
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 LYFT, 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 22 uncommon options trades for Lyft.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 54%, bearish.
Out of all of the special options we uncovered, 13 are puts, for a total amount of $2,601,912, and 9 are calls, for a total amount of $677,932.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.5 to $15.0 for Lyft over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Lyft's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Lyft's significant trades, within a strike price range of $7.5 to $15.0, over the past month.
Lyft Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LYFT | PUT | TRADE | BEARISH | 01/17/25 | $3.45 | $3.35 | $3.45 | $12.50 | $1.7M | 9.8K | 5.1K |
| LYFT | CALL | SWEEP | BULLISH | 01/16/26 | $3.85 | $3.75 | $3.85 | $8.00 | $192.5K | 1.2K | 536 |
| LYFT | PUT | TRADE | BULLISH | 08/16/24 | $2.78 | $2.67 | $2.67 | $12.00 | $162.8K | 5.2K | 804 |
| LYFT | CALL | TRADE | NEUTRAL | 10/18/24 | $0.62 | $0.6 | $0.61 | $11.00 | $146.4K | 4.2K | 4.3K |
| LYFT | PUT | SWEEP | BEARISH | 08/16/24 | $3.5 | $3.35 | $3.5 | $13.00 | $112.0K | 4.6K | 502 |
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.
Current Position of Lyft
- With a trading volume of 16,007,353, the price of LYFT is up by 9.2%, reaching $9.91.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 90 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.
