Lennar's Options Frenzy: What You Need to Know

Lennar Corporation Class A -1.51%

Lennar Corporation Class A




Deep-pocketed investors have adopted a bearish approach towards Lennar (NYSE:LEN), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LEN usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Lennar. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 23% leaning bullish and 76% bearish. Among these notable options, 3 are puts, totaling $113,200, and 10 are calls, amounting to $603,420.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $175.0 for Lennar during the past quarter.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Lennar options trades today is 1162.12 with a total volume of 772.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Lennar's big money trades within a strike price range of $100.0 to $175.0 over the last 30 days.

Lennar Option Activity Analysis: Last 30 Days

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
LEN CALL SWEEP NEUTRAL 01/19/24 $120.00 $143.7K 6.1K 100
LEN CALL SWEEP BEARISH 01/19/24 $120.00 $116.5K 6.1K 238
LEN CALL TRADE BEARISH 01/17/25 $100.00 $54.2K 519 10
LEN CALL SWEEP NEUTRAL 01/17/25 $175.00 $52.5K 2.0K 100
LEN CALL SWEEP BULLISH 08/16/24 $155.00 $52.0K 24 40

About Lennar

Based on the number of delivered homes, Lennar is the second-largest public homebuilder in the United States, behind D.R. Horton. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily construction and has invested in numerous housing-related technology startups.

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

Present Market Standing of Lennar

  • Trading volume stands at 232,438, with LEN's price down by 0.0%, positioned at $149.3.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 75 days.

Expert Opinions on Lennar

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $159.0.

  • Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Lennar with a target price of $170.
  • Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Lennar, targeting a price of $158.
  • Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Lennar with a target price of $165.
  • Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for Lennar, targeting a price of $165.
  • An analyst from RBC Capital persists with their Underperform rating on Lennar, maintaining a target price of $137.

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 Lennar with Benzinga Pro for real-time alerts.

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