A whale with a lot of money to spend has taken a noticeably bearish stance on Lululemon Athletica.
Looking at options history for Lululemon Athletica (NASDAQ:LULU) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $169,450 and 7, calls, for a total amount of $522,716.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $300.0 to $330.0 for Lululemon Athletica over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Lululemon Athletica'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 Lululemon Athletica's whale activity within a strike price range from $300.0 to $330.0 in the last 30 days.
Lululemon Athletica Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LULU | CALL | SWEEP | BULLISH | 08/26/22 | $325.00 | $193.1K | 38 | 171 |
| LULU | PUT | TRADE | BEARISH | 01/19/24 | $300.00 | $90.8K | 68 | 20 |
| LULU | CALL | TRADE | BEARISH | 08/19/22 | $310.00 | $76.9K | 647 | 44 |
| LULU | CALL | TRADE | BULLISH | 01/19/24 | $330.00 | $65.7K | 12 | 14 |
| LULU | CALL | SWEEP | BEARISH | 01/19/24 | $330.00 | $52.7K | 12 | 24 |
Where Is Lululemon Athletica Standing Right Now?
- With a volume of 570,472, the price of LULU is down -0.45% at $316.36.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 30 days.
What The Experts Say On Lululemon Athletica:
- Piper Sandler downgraded its action to Neutral with a price target of $310
- Jefferies downgraded its action to Underperform with a price target of $200
- Keybanc downgraded its action to Overweight with a price target of $350
- BTIG has decided to maintain their Buy rating on Lululemon Athletica, which currently sits at a price target of $402.
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 Lululemon Athletica, Benzinga Pro gives you real-time options trades alerts.
