Investors with a lot of money to spend have taken a bullish stance on Lennar (NYSE:LEN).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LEN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Lennar.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 33%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $231,738, and 5 are calls, for a total amount of $192,646.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $139.0 to $180.0 for Lennar over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Lennar options trades today is 1023.5 with a total volume of 903.00.
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 $139.0 to $180.0 over the last 30 days.
Lennar Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LEN | PUT | SWEEP | NEUTRAL | 09/20/24 | $13.4 | $13.0 | $13.22 | $180.00 | $66.1K | 11 | 204 |
| LEN | PUT | SWEEP | BULLISH | 09/20/24 | $13.4 | $13.0 | $13.14 | $180.00 | $65.7K | 11 | 254 |
| LEN | CALL | TRADE | BULLISH | 08/16/24 | $4.4 | $4.3 | $4.4 | $175.00 | $54.5K | 1.3K | 94 |
| LEN | PUT | SWEEP | BEARISH | 09/20/24 | $13.3 | $13.1 | $13.22 | $180.00 | $50.4K | 11 | 78 |
| LEN | PUT | TRADE | NEUTRAL | 09/20/24 | $13.5 | $13.2 | $13.35 | $180.00 | $49.3K | 11 | 116 |
About Lennar
Lennar is one of the largest public homebuilders in the United States. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily and single-family for rent construction and has invested in numerous housing-related technology startups.
Following our analysis of the options activities associated with Lennar, we pivot to a closer look at the company's own performance.
Lennar's Current Market Status
- With a trading volume of 1,814,460, the price of LEN is up by 0.54%, reaching $170.94.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 55 days from now.
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 Lennar with Benzinga Pro for real-time alerts.