Lowe's Companies's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Lowe's Companies (NYSE:LOW) has seen a notable options trading activity, with an equal split between bullish and bearish sentiments among traders. Analysis of 10 unusual trades revealed 50% bullish and 50% bearish tendencies, with a significant value leaning towards calls over puts. The options trading suggests a price target range of $210 to $250 for LOW. Currently, LOW's stock is slightly up by 0.56% at $240.14, with potential overbought signals from RSI readings. Professional analysts have set an average price target of $251.2 for LOW, with ratings ranging from Neutral to Buy.
February 29, 2024 | 3:17 pm
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Lowe's Companies has experienced significant options trading activity, indicating a mixed sentiment among traders but with a higher value in bullish calls. The stock is currently up, trading at $240.14, with professional analysts setting an average price target of $251.2.
The significant options trading activity, especially the bullish calls, combined with the current uptick in LOW's stock price and the optimistic analyst price targets, suggests a positive short-term outlook for LOW. However, the mention of potential overbought conditions could temper the immediate upside.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100