Lyft's Options: A Look at What the Big Money is Thinking

Author: Benzinga Insights | April 24, 2024 02:16pm

Financial giants have made a conspicuous bullish move on Lyft. Our analysis of options history for Lyft (NASDAQ:LYFT) revealed 11 unusual trades.

Delving into the details, we found 63% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $164,232, and 7 were calls, valued at $1,166,313.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $14.0 and $27.0 for Lyft, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Lyft stands at 2059.73, with a total volume reaching 1,463.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lyft, situated within the strike price corridor from $14.0 to $27.0, throughout the last 30 days.

Lyft Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
LYFT	CALL	TRADE	BULLISH	07/19/24	$2.2	$2.17	$2.2	$17.00	$770.0K	1.6K	23
LYFT	CALL	TRADE	BEARISH	05/17/24	$2.76	$2.67	$2.67	$14.00	$114.0K	286	2
LYFT	CALL	SWEEP	BEARISH	05/03/24	$0.56	$0.37	$0.37	$17.50	$108.6K	4.0K	0
LYFT	PUT	SWEEP	BULLISH	05/16/25	$12.05	$11.95	$12.0	$27.00	$73.2K	0	3
LYFT	CALL	SWEEP	BULLISH	05/17/24	$1.31	$1.28	$1.3	$17.00	$65.0K	2.2K	546

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.

Present Market Standing of Lyft

• With a volume of 12,069,459, the price of LYFT is down -2.48% at $16.5.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 13 days.

What The Experts Say On Lyft

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $21.0.

• An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Lyft, which currently sits at a price target of $18.
• An analyst from Tigress Financial persists with their Buy rating on Lyft, maintaining a target price of $24.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Lyft options trades with real-time alerts from Benzinga Pro.

Posted In: LYFT