What the Options Market Tells Us About Lululemon Athletica

Lululemon Athletica Inc -0.98%

Lululemon Athletica Inc




Deep-pocketed investors have adopted a bearish approach towards Lululemon Athletica (NASDAQ:LULU), 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 LULU usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Lululemon Athletica. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 31% leaning bullish and 68% bearish. Among these notable options, 12 are puts, totaling $788,533, and 10 are calls, amounting to $514,476.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $350.0 to $450.0 for Lululemon Athletica during the past quarter.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Lululemon Athletica's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lululemon Athletica's substantial trades, within a strike price spectrum from $350.0 to $450.0 over the preceding 30 days.

Lululemon Athletica 30-Day Option Volume & Interest Snapshot

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
LULU PUT TRADE BULLISH 12/15/23 $390.00 $175.0K 2.4K 969
LULU CALL SWEEP BULLISH 01/19/24 $440.00 $160.6K 658 137
LULU PUT SWEEP BEARISH 06/21/24 $380.00 $85.9K 263 52
LULU PUT SWEEP BULLISH 03/15/24 $370.00 $76.7K 1.1K 302
LULU PUT SWEEP NEUTRAL 03/15/24 $370.00 $63.3K 1.1K 103

About Lululemon Athletica

Lululemon Athletica Inc. 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 670 company-owned stores in 19 countries, e-commerce, outlets, and wholesale accounts. The company was founded in 1998 and is based in Vancouver, Canada.

Following our analysis of the options activities associated with Lululemon Athletica, we pivot to a closer look at the company's own performance.

Where Is Lululemon Athletica Standing Right Now?

  • Currently trading with a volume of 1,108,381, the LULU's price is up by 2.49%, now at $438.38.
  • RSI readings suggest the stock is currently may be overbought.
  • Anticipated earnings release is in 8 days.

What Analysts Are Saying About Lululemon Athletica

In the last month, 2 experts released ratings on this stock with an average target price of $487.5.

  • Reflecting concerns, an analyst from Truist Securities lowers its rating to Buy with a new price target of $500.
  • Reflecting concerns, an analyst from Evercore ISI Group lowers its rating to Outperform with a new price target of $475.

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.

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