Lyft Option Alert: May 17 $25 Calls at the Ask: 34891 @ $0.58 vs 1230 OI; Earnings 5/2 After Close [est] Ref=$19.3
Portfolio Pulse from Charles Gross
Lyft has seen significant trading activity in its options market, with a notable volume of May 17 $25 calls being purchased at $0.58 each, compared to an open interest of 1230. This activity comes ahead of Lyft's earnings report, which is estimated to be released after the market closes on May 2. The reference price for Lyft's stock at the time of the option trades was $19.3.
April 01, 2024 | 4:00 pm
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Lyft's stock could see increased volatility and potential upside movement in the short term due to significant options activity ahead of its earnings report.
The significant purchase of May 17 $25 calls indicates a bullish sentiment among investors, expecting Lyft's stock to rise above $25 by May 17. This optimism, especially ahead of the earnings report, could lead to increased buying pressure and potentially drive the stock price up in the short term. However, the actual impact will heavily depend on the earnings results and forward guidance provided by Lyft.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90