Smart Money Is Betting Big In LULU Options

Author: Benzinga Insights | April 26, 2024 10:46am

Financial giants have made a conspicuous bullish move on Lululemon Athletica. Our analysis of options history for Lululemon Athletica (NASDAQ:LULU) revealed 8 unusual trades.

Delving into the details, we found 37% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $127,489, and 5 were calls, valued at $275,390.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $330.0 to $400.0 for Lululemon Athletica over the recent three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Lululemon Athletica options trades today is 1198.57 with a total volume of 312.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Lululemon Athletica's big money trades within a strike price range of $330.0 to $400.0 over the last 30 days.

Lululemon Athletica Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
LULU	CALL	TRADE	BULLISH	06/21/24	$8.75	$8.45	$8.75	$400.00	$87.5K	2.4K	23
LULU	CALL	SWEEP	BEARISH	05/03/24	$7.35	$7.0	$7.0	$362.50	$58.1K	342	28
LULU	CALL	SWEEP	BEARISH	09/20/24	$20.8	$20.65	$20.65	$400.00	$53.6K	665	26
LULU	PUT	TRADE	BULLISH	06/21/24	$6.9	$6.55	$6.65	$330.00	$53.2K	2.6K	0
LULU	CALL	TRADE	NEUTRAL	07/19/24	$50.0	$49.1	$49.6	$330.00	$49.6K	163	0

About Lululemon Athletica

Lululemon Athletica designs, distributes, and markets athletic apparel, footwear, and accessories for women, men, and girls. Lululemon offers pants, shorts, tops, and jackets for both leisure and athletic activities such as yoga and running. The company also sells fitness accessories, such as bags, yoga mats, and equipment. Lululemon sells its products through more than 700 company-owned stores in about 20 countries, e-commerce, outlets, and wholesale accounts. The company was founded in 1998 and is based in Vancouver, Canada.

In light of the recent options history for Lululemon Athletica, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Lululemon Athletica

• Currently trading with a volume of 259,910, the LULU's price is up by 1.66%, now at $365.97.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 34 days.

Professional Analyst Ratings for Lululemon Athletica

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $415.0.

• An analyst from Jefferies persists with their Underperform rating on Lululemon Athletica, maintaining a target price of $240.
• An analyst from Piper Sandler persists with their Overweight rating on Lululemon Athletica, maintaining a target price of $470.
• Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Lululemon Athletica, targeting a price of $505.
• Reflecting concerns, an analyst from Oppenheimer lowers its rating to Outperform with a new price target of $445.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Lululemon Athletica with Benzinga Pro for real-time alerts.

Posted In: LULU