Lyft's Options Frenzy: What You Need to Know

Author: Benzinga Insights | May 06, 2024 02:01pm

Whales with a lot of money to spend have taken a noticeably bullish stance on Lyft.

Looking at options history for Lyft (NASDAQ:LYFT) we detected 14 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $206,089 and 9, calls, for a total amount of $484,135.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $16.0 and $22.0 for Lyft, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Lyft stands at 1621.43, with a total volume reaching 8,186.00. 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 $16.0 to $22.0, throughout the last 30 days.

Lyft Option Volume And Open Interest Over 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	BEARISH	05/10/24	$0.81	$0.78	$0.78	$19.50	$172.1K	2.8K	2.5K
LYFT	CALL	SWEEP	BEARISH	05/10/24	$0.35	$0.3	$0.3	$22.00	$58.4K	288	2.3K
LYFT	CALL	SWEEP	BEARISH	05/17/24	$0.64	$0.63	$0.63	$20.50	$54.5K	47	864
LYFT	PUT	TRADE	BULLISH	08/16/24	$3.15	$3.1	$3.1	$18.00	$53.9K	17	1
LYFT	CALL	SWEEP	BULLISH	05/10/24	$1.76	$1.75	$1.75	$17.00	$50.5K	1.4K	954

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.

Lyft's Current Market Status

• With a volume of 6,998,331, the price of LYFT is up 1.42% at $17.45.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 1 days.

Professional Analyst Ratings for Lyft

In the last month, 3 experts released ratings on this stock with an average target price of $18.333333333333332.

• Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Lyft, targeting a price of $18.
• An analyst from Morgan Stanley persists with their Equal-Weight rating on Lyft, maintaining a target price of $13.
• An analyst from Tigress Financial has decided to maintain their Buy rating on Lyft, which currently sits at a price target 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