Albemarle's Options Frenzy: What You Need to Know

Author: Benzinga Insights | July 10, 2024 11:18am

Whales with a lot of money to spend have taken a noticeably bearish stance on Albemarle.

Looking at options history for Albemarle (NYSE:ALB) we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 62% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $271,903 and 3, calls, for a total amount of $103,420.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $120.0 for Albemarle over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Albemarle stands at 425.17, with a total volume reaching 242.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Albemarle, situated within the strike price corridor from $70.0 to $120.0, throughout the last 30 days.

Albemarle Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ALB	PUT	SWEEP	BEARISH	12/20/24	$9.05	$8.65	$8.9	$85.00	$89.0K	158	0
ALB	PUT	SWEEP	NEUTRAL	09/20/24	$29.9	$29.2	$29.25	$120.00	$58.4K	1.0K	0
ALB	PUT	TRADE	BEARISH	06/20/25	$13.35	$13.25	$13.35	$85.00	$46.7K	110	0
ALB	PUT	SWEEP	BEARISH	12/20/24	$8.9	$8.8	$8.9	$85.00	$44.5K	158	150
ALB	CALL	TRADE	BULLISH	01/16/26	$33.1	$31.1	$33.1	$75.00	$39.7K	117	0

About Albemarle

Albemarle is one of the world's largest lithium producers. In the lithium industry, the majority of demand comes from batteries, where lithium is used as the energy storage material, particularly in electric vehicles. Albemarle is a fully integrated lithium producer. Its upstream resources include salt brine deposits in Chile and the US and two hard rock mines in Australia, both of which are joint ventures. The company operates lithium refining plants in Chile, the US, Australia, and China. Albemarle is a global leader in the production of bromine, used in flame retardants. It is also a major producer of oil refining catalysts.

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

Where Is Albemarle Standing Right Now?

• With a trading volume of 1,020,070, the price of ALB is up by 2.64%, reaching $92.86.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 21 days from now.

Professional Analyst Ratings for Albemarle

In the last month, 5 experts released ratings on this stock with an average target price of $126.6.

• Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Albemarle, targeting a price of $109.
• An analyst from Baird persists with their Outperform rating on Albemarle, maintaining a target price of $127.
• An analyst from Piper Sandler persists with their Underweight rating on Albemarle, maintaining a target price of $95.
• Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Albemarle with a target price of $178.
• An analyst from UBS persists with their Neutral rating on Albemarle, maintaining a target price of $124.

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 Albemarle options trades with real-time alerts from Benzinga Pro.

Posted In: ALB