Spotlight on Lululemon Athletica: Analyzing the Surge in Options Activity

Author: Benzinga Insights | August 19, 2024 11:45am

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

Looking at options history for Lululemon Athletica (NASDAQ:LULU) we detected 19 trades.

If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 21% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $101,910 and 17, calls, for a total amount of $575,318.

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 $230.0 and $300.0 for Lululemon Athletica, spanning the last three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Lululemon Athletica's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Lululemon Athletica's significant trades, within a strike price range of $230.0 to $300.0, over the past month.

Lululemon Athletica Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
LULU	PUT	TRADE	BEARISH	12/20/24	$25.55	$25.4	$25.55	$260.00	$76.6K	930	32
LULU	CALL	TRADE	NEUTRAL	09/20/24	$17.25	$16.8	$17.03	$260.00	$42.5K	966	65
LULU	CALL	TRADE	BEARISH	10/18/24	$21.2	$21.05	$21.05	$260.00	$42.1K	449	8
LULU	CALL	TRADE	BEARISH	01/17/25	$24.5	$24.1	$24.2	$280.00	$38.7K	366	93
LULU	CALL	SWEEP	NEUTRAL	09/20/24	$37.75	$37.15	$37.43	$230.00	$37.4K	229	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.

Having examined the options trading patterns of Lululemon Athletica, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Lululemon Athletica's Current Market Status

• Trading volume stands at 567,033, with LULU's price up by 0.89%, positioned at $260.4.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 10 days.

Expert Opinions on Lululemon Athletica

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $365.2.

• An analyst from Baird has decided to maintain their Outperform rating on Lululemon Athletica, which currently sits at a price target of $470.
• Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Lululemon Athletica, targeting a price of $350.
• Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Lululemon Athletica, targeting a price of $300.
• In a cautious move, an analyst from Goldman Sachs downgraded its rating to Neutral, setting a price target of $286.
• An analyst from TD Cowen persists with their Buy rating on Lululemon Athletica, maintaining a target price of $420.

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 Lululemon Athletica options trades with real-time alerts from Benzinga Pro.

Posted In: LULU