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 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $248,570 and 8, calls, for a total amount of $475,375.
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 $190.0 to $350.0 for Lululemon Athletica over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Lululemon Athletica options trades today is 354.12 with a total volume of 1,448.00.
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 $190.0 to $350.0 over 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 | PUT | TRADE | BEARISH | 12/16/22 | $220.00 | $110.5K | 348 | 100 |
| LULU | CALL | TRADE | BEARISH | 09/16/22 | $320.00 | $75.4K | 377 | 100 |
| LULU | CALL | TRADE | BEARISH | 09/16/22 | $320.00 | $73.4K | 377 | 258 |
| LULU | CALL | TRADE | BEARISH | 09/16/22 | $320.00 | $71.0K | 377 | 51 |
| LULU | CALL | TRADE | BEARISH | 09/16/22 | $320.00 | $69.8K | 377 | 207 |
Where Is Lululemon Athletica Standing Right Now?
- With a volume of 545,442, the price of LULU is up 1.87% at $291.68.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 75 days.
What The Experts Say On Lululemon Athletica:
- Barclays has decided to maintain their Overweight rating on Lululemon Athletica, which currently sits at a price target of $435.
- Morgan Stanley has decided to maintain their Overweight rating on Lululemon Athletica, which currently sits at a price target of $315.
- BTIG has decided to maintain their Buy rating on Lululemon Athletica, which currently sits at a price target of $420.
- Citigroup has decided to maintain their Neutral rating on Lululemon Athletica, which currently sits at a price target of $345.
- Bernstein upgraded its action to Market Perform with a price target of $300
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.
