Albemarle Unusual Options Activity For April 29

Albemarle Corporation -1.83%

Albemarle Corporation




High-rolling investors have positioned themselves bullish on Albemarle (NYSE:ALB), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ALB often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 10 options trades for Albemarle. This is not a typical pattern.

The sentiment among these major traders is split, with 50% bullish and 20% bearish. Among all the options we identified, there was one put, amounting to $27,220, and 9 calls, totaling $750,960.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $125.0 for Albemarle over the recent three months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Albemarle's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Albemarle's substantial trades, within a strike price spectrum from $90.0 to $125.0 over the preceding 30 days.

Albemarle 30-Day Option Volume & Interest Snapshot

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
ALB CALL SWEEP BULLISH 05/17/24 $25.0 $23.6 $25.0 $100.00 $250.0K 526 0
ALB CALL TRADE BULLISH 05/17/24 $6.45 $6.3 $6.45 $125.00 $129.0K 1.3K 370
ALB CALL SWEEP BEARISH 05/17/24 $6.1 $5.75 $6.05 $125.00 $104.0K 1.3K 54
ALB CALL TRADE NEUTRAL 05/17/24 $6.95 $6.15 $6.56 $125.00 $65.6K 1.3K 270
ALB CALL TRADE NEUTRAL 05/17/24 $26.2 $23.95 $25.0 $100.00 $55.0K 526 100

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 U.S. and two hard rock mines in Australia, both of which are joint ventures. The company operates lithium refining plants in Chile, the U.S., 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 112,846, the price of ALB is up by 4.95%, reaching $122.67.
  • Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
  • Next earnings report is scheduled for 2 days from now.

Professional Analyst Ratings for Albemarle

In the last month, 4 experts released ratings on this stock with an average target price of $149.0.

  • In a positive move, an analyst from Berenberg has upgraded their rating to Buy and adjusted the price target to $160.
  • Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Albemarle with a target price of $145.
  • Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Albemarle, targeting a price of $135.
  • An analyst from B of A Securities upgraded its action to Buy with a price target of $156.

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 Albemarle with Benzinga Pro for real-time alerts.

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