Investors with a lot of money to spend have taken a bullish stance on Lumentum Holdings (NASDAQ:LITE).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LITE, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 118 uncommon options trades for Lumentum Holdings.

This isn't normal.

The overall sentiment of these big-money traders is split between 46% bullish and 37%, bearish.

Out of all of the special options we uncovered, 31 are puts, for a total amount of $3,222,421, and 87 are calls, for a total amount of $9,356,600.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $42.5 to $750.0 for Lumentum Holdings during the past quarter.

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 Lumentum Holdings's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lumentum Holdings's substantial trades, within a strike price spectrum from $42.5 to $750.0 over the preceding 30 days.

Lumentum Holdings 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
LITE	PUT	TRADE	BEARISH	01/21/28	$162.5	$158.5	$161.0	$420.00	$805.0K	0	50
LITE	PUT	SWEEP	BULLISH	02/13/26	$232.9	$229.7	$229.8	$720.00	$482.4K	0	27
LITE	PUT	SWEEP	BEARISH	02/20/26	$32.2	$28.9	$32.2	$460.00	$309.1K	1.5K	354
LITE	CALL	SWEEP	BEARISH	02/06/26	$13.9	$10.8	$11.9	$490.00	$140.9K	2.0K	444
LITE	CALL	TRADE	NEUTRAL	06/18/26	$265.5	$261.0	$263.25	$250.00	$131.6K	209	16

About Lumentum Holdings

Lumentum Holdings Inc is a California-based technology firm. The company provides two types of optical and photonic products: optical components that are used in telecommunications networking equipment, and commercial lasers for manufacturing, inspection, and life-science lab uses. Its segments are Optical Communications and Commercial Lasers. The firm is also expanding into new optical applications, such as 3-D sensing laser diode for consumer electronics. It generates maximum revenue from the OpComms segment. The OpComms segment products include a wide range of components, modules, and subsystems to support customers including carrier networks for access (local), metro (intracity), long-haul, and submarine (undersea) applications.

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

Where Is Lumentum Holdings Standing Right Now?

• With a trading volume of 5,011,759, the price of LITE is up by 5.08%, reaching $489.17.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 89 days from now.

What The Experts Say On Lumentum Holdings

In the last month, 5 experts released ratings on this stock with an average target price of $463.2.

• An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Lumentum Holdings, which currently sits at a price target of $350.
• Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Lumentum Holdings, targeting a price of $450.
• An analyst from B. Riley Securities has elevated its stance to Buy, setting a new price target at $526.
• An analyst from Needham has decided to maintain their Buy rating on Lumentum Holdings, which currently sits at a price target of $470.
• An analyst from B of A Securities persists with their Neutral rating on Lumentum Holdings, maintaining a target price of $520.

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.