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A Closer Look at Lyft’s Options Market Dynamics

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Deep-pocketed investors have adopted a bullish approach towards Lyft LYFT, and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LYFT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 12 extraordinary options activities for Lyft. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 58% leaning bullish and 41% bearish. Among these notable options, 8 are puts, totaling $1,025,697, and 4 are calls, amounting to $250,689.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.0 to $16.0 for Lyft over the recent three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Lyft options trades today is 2705.11 with a total volume of 20,786.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Lyft’s big money trades within a strike price range of $8.0 to $16.0 over the last 30 days.

Lyft Option Activity Analysis: Last 30 Days

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Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
LYFT PUT TRADE BULLISH 03/15/24 $13.00 $580.0K 1.0K 4.0K
LYFT CALL SWEEP BULLISH 03/15/24 $13.00 $123.5K 1.0K 1.8K
LYFT PUT SWEEP BEARISH 03/15/24 $13.00 $118.4K 1.0K 4.8K
LYFT PUT SWEEP BEARISH 04/19/24 $11.00 $101.7K 2.4K 1.3K
LYFT PUT SWEEP BULLISH 03/01/24 $13.00 $70.4K 44 518

About Lyft

Lyft is the second-largest ride-sharing service provider in the U.S. 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.

Following our analysis of the options activities associated with Lyft, we pivot to a closer look at the company’s own performance.

Where Is Lyft Standing Right Now?

  • With a trading volume of 5,652,656, the price of LYFT is down by -0.47%, reaching $12.69.
  • Current RSI values indicate that the stock is may be approaching oversold.
  • Next earnings report is scheduled for 8 days from now.

What The Experts Say On Lyft

4 market experts have recently issued ratings for this stock, with a consensus target price of $14.25.

  • An analyst from Goldman Sachs downgraded its action to Neutral with a price target of $15.
  • An analyst from Goldman Sachs persists with their Neutral rating on Lyft, maintaining a target price of $15.
  • An analyst from BMO Capital downgraded its action to Market Perform with a price target of $15.
  • Consistent in their evaluation, an analyst from TD Cowen keeps a Market Perform rating on Lyft with a target price of $12.

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 Lyft with Benzinga Pro for real-time alerts.

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