A Closer Look at Lululemon Athletica's Options Market Dynamics
Portfolio Pulse from Benzinga Insights
Investors have shown a bearish stance on Lululemon Athletica (NASDAQ:LULU), with options trading indicating a sentiment split of 38% bullish and 61% bearish. The options market dynamics reveal significant activity, including 13 uncommon trades, with puts totaling $328,019 and calls at $322,980. The price target window observed ranges from $420.0 to $495.0. LULU's current trading volume is 219,586, with a slight price decrease of -0.01%, positioned at $457.7. An earnings announcement is expected in 9 days, and an analyst from Needham has revised its rating to Buy with a price target of $525.
March 12, 2024 | 3:31 pm
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NEUTRAL IMPACT
Bearish options trading activity observed for Lululemon Athletica, with a price target window from $420 to $495. Current stock price at $457.7, with an earnings announcement expected in 9 days. Needham analyst revises rating to Buy with a target of $525.
The bearish sentiment in the options market, combined with the upcoming earnings announcement, could lead to short-term volatility in LULU's stock price. However, the analyst upgrade to Buy suggests underlying strength, making the short-term impact neutral.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100