Benzinga | Dec 20, 2021 11:55AM EST

This Is What Whales Are Betting On Lowe's Companies

Someone with a lot of money to spend has taken a bullish stance on Lowe's Companies (NYSE:LOW).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with LOW, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 11 options trades for Lowe's Companies.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $32,465, and 10, calls, for a total amount of $707,513..

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 $90.0 to $260.0 for Lowe's Companies over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Lowe's Companies's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Lowe's Companies's whale trades within a strike price range from $90.0 to $260.0 in the last 30 days.

Lowe's Companies Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestLOW CALL TRADE BULLISH 01/21/ $90.00 $153.4K 213 70 22LOW CALL SWEEP BULLISH 01/21/ $90.00 $153.0K 213 10 22LOW CALL TRADE BULLISH 03/18/ $260.00 $80.0K 1.5K 507 22LOW CALL SWEEP BULLISH 03/18/ $260.00 $72.0K 1.5K 407 22LOW CALL TRADE BEARISH 03/18/ $260.00 $63.0K 1.5K 104 22

Where Is Lowe's Companies Standing Right Now?

* With a volume of 1,408,740, the price of LOW is down -1.99% at $243.15.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 65 days.

What The Experts Say On Lowe's Companies:

* Morgan Stanley has decided to maintain their Overweight rating on Lowe's Companies, which currently sits at a price target of $265.

* Morgan Stanley has decided to maintain their Overweight rating on Lowe's Companies, which currently sits at a price target of $260.

* Wells Fargo has decided to maintain their Overweight rating on Lowe's Companies, which currently sits at a price target of $295.

* Oppenheimer has decided to maintain their Outperform rating on Lowe's Companies, which currently sits at a price target of $300.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.