Whales with a lot of money to spend have taken a noticeably bearish stance on Albemarle.
Looking at options history for Albemarle ALB we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 14% of the investors opened trades with bullish expectations and 85% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $721,801 and 4, calls, for a total amount of $166,422.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $180.0 for Albemarle over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Albemarle options trades today is 508.0 with a total volume of 212.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Albemarle's big money trades within a strike price range of $85.0 to $180.0 over the last 30 days.
Albemarle 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ALB | PUT | SWEEP | BEARISH | 06/21/24 | $100.00 | $289.9K | 1.5K | 0 |
| ALB | PUT | SWEEP | BEARISH | 01/17/25 | $170.00 | $113.9K | 1.4K | 0 |
| ALB | CALL | TRADE | BEARISH | 03/15/24 | $110.00 | $70.1K | 99 | 44 |
| ALB | PUT | SWEEP | BEARISH | 01/17/25 | $110.00 | $48.4K | 280 | 40 |
| ALB | PUT | TRADE | NEUTRAL | 01/19/24 | $120.00 | $47.1K | 936 | 38 |
About Albemarle
Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is a global leader in the production of bromine, used in flame retardants. The company is also a major producer of oil refining catalysts.
Following our analysis of the options activities associated with Albemarle, we pivot to a closer look at the company's own performance.
Where Is Albemarle Standing Right Now?
- Trading volume stands at 904,108, with ALB's price up by 1.01%, positioned at $115.76.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 96 days.
What Analysts Are Saying About Albemarle
In the last month, 5 experts released ratings on this stock with an average target price of $193.2.
- An analyst from Keybanc has decided to maintain their Overweight rating on Albemarle, which currently sits at a price target of $200.
- An analyst from Oppenheimer persists with their Outperform rating on Albemarle, maintaining a target price of $308.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Albemarle, which currently sits at a price target of $163.
- An analyst from Piper Sandler has revised its rating downward to Neutral, adjusting the price target to $155.
- An analyst from UBS has revised its rating downward to Neutral, adjusting the price target to $140.
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 Albemarle with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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