Looking At Lennar's Recent Unusual Options Activity

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A whale with a lot of money to spend has taken a noticeably bullish stance on Lennar.


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Looking at options history for Lennar (NYSE:LEN) we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $248,498 and 4, calls, for a total amount of $197,793.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $106.0 to $115.0 for Lennar over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Lennar options trades today is 1337.33 with a total volume of 1,726.00.

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 $106.0 to $115.0 over the last 30 days.

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Lennar Option Volume And Open Interest Over Last 30 Days

Options Call Chart

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Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
LEN CALL SWEEP BULLISH 06/16/23 $108.00 $88.4K 5 268
LEN PUT SWEEP BULLISH 08/18/23 $110.00 $61.3K 1.5K 184
LEN PUT TRADE BULLISH 08/18/23 $110.00 $61.1K 1.5K 103
LEN CALL SWEEP BULLISH 08/18/23 $110.00 $53.9K 2.5K 95
LEN PUT TRADE NEUTRAL 08/18/23 $115.00 $49.1K 1.9K 81

Where Is Lennar Standing Right Now?

With a volume of 373,885, the price of LEN is down -0.55% at $107.96. RSI indicators hint that the underlying stock may be approaching oversold. Next earnings are expected to be released in 25 days.

What The Experts Say On Lennar:

Barclays has decided to maintain their Overweight rating on Lennar, which currently sits at a price target of $135.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Lennar, Benzinga Pro gives you real-time options trades alerts.


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This article Looking At Lennar’s Recent Unusual Options Activity originally appeared on Benzinga.com.

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