Lyft stock had heavy call options flow on October 15, 2019. It looks like options traders are betting a bottom has been put in for the stock and so they are taking on some high risk options trades.
The call buying on October 15, 2019, was relentlessly bullish.
The purple colored sweeps signal the day’s open interest was exceeded in multiple trades which is bullish. The yellow colored sweeps signal that the day’s entire open interest was exceeded in that single trade. Notice too all the AA’s which means Above the Ask. Call options executed above the ask is extremely bullish as it signifies somebody just wanted to get into the position as fast as possible and didn’t mind paying above the ask for that privilege.
Personally, I’m not going to attempt a swing long trade in LYFT stock. The risk is just too high IMO. Nevertheless, some readers of GuerillaStockTrading.com may want to take part in such a swing long trade. Notice that on the daily chart there is a clearly define stoploss level that can be set just below $37.
Disclosure: We do not hold any position in LYFT stock.