Unpacking the Latest Options Trading Trends in Lululemon Athletica

Author: Benzinga Insights | July 30, 2024 11:01am

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

Looking at options history for Lululemon Athletica (NASDAQ:LULU) 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 37% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $197,300 and 5, calls, for a total amount of $702,797.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $340.0 for Lululemon Athletica, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Lululemon Athletica stands at 434.29, with a total volume reaching 545.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lululemon Athletica, situated within the strike price corridor from $200.0 to $340.0, throughout the last 30 days.

Lululemon Athletica 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
LULU	CALL	TRADE	NEUTRAL	01/17/25	$9.9	$9.3	$9.65	$330.00	$434.2K	377	450
LULU	CALL	TRADE	BULLISH	03/21/25	$11.0	$10.4	$11.0	$340.00	$110.0K	182	0
LULU	PUT	TRADE	BEARISH	10/18/24	$17.25	$15.85	$16.95	$250.00	$67.8K	479	40
LULU	PUT	TRADE	NEUTRAL	10/18/24	$17.6	$16.2	$16.85	$250.00	$67.4K	479	0
LULU	CALL	TRADE	BEARISH	12/18/26	$69.95	$63.85	$65.25	$270.00	$65.2K	20	10

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.

After a thorough review of the options trading surrounding Lululemon Athletica, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Lululemon Athletica's Current Market Status

• Trading volume stands at 380,424, with LULU's price down by -1.21%, positioned at $255.9.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 30 days.

Professional Analyst Ratings for Lululemon Athletica

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $299.6.

• Reflecting concerns, an analyst from Citigroup lowers its rating to Neutral with a new price target of $300.
• Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Lululemon Athletica, targeting a price of $338.
• An analyst from TD Cowen has decided to maintain their Buy rating on Lululemon Athletica, which currently sits at a price target of $420.
• Maintaining their stance, an analyst from Jefferies continues to hold a Underperform rating for Lululemon Athletica, targeting a price of $220.
• Reflecting concerns, an analyst from Jefferies lowers its rating to Underperform with a new price target of $220.

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