Benzinga | Jan 21, 2022 05:21AM EST

Lowe's Companies Whale Trades Spotted

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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 13 uncommon options trades for Lowe's Companies.

This isn't normal.

The overall sentiment of these big-money traders is split between 69% bullish and 30%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $94,025, and 10 are calls, for a total amount of $746,348.

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 $100.0 to $300.0 for Lowe's Companies over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Lowe's Companies options trades today is 258.33 with a total volume of 3,835.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Lowe's Companies's big money trades within a strike price range of $100.0 to $300.0 over 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/ $155.00 $201.4K 59 0 22LOW CALL TRADE BULLISH 01/19/ $240.00 $174.5K 20 50 24LOW CALL SWEEP BULLISH 06/17/ $150.00 $75.7K 75 12 22LOW CALL SWEEP BULLISH 01/21/ $150.00 $67.2K 123 20 22LOW CALL SWEEP BEARISH 06/17/ $185.00 $63.7K 726 26 22

Where Is Lowe's Companies Standing Right Now?

* With a volume of 5,919,698, the price of LOW is down -4.62% at $223.85.

* RSI indicators hint that the underlying stock may be oversold.

* Next earnings are expected to be released in 34 days.

What The Experts Say On Lowe's Companies:

* Citigroup has decided to maintain their Buy rating on Lowe's Companies, which currently sits at a price target of $292.

* Evercore ISI Group upgraded its action to Outperform with a price target of $280

* Morgan Stanley has decided to maintain their Overweight rating on Lowe's Companies, which currently sits at a price target of $280.

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.