AAL

Lucid Stock Hits 9-Month High After Lifting Production Outlook

Options traders are eyeing LCID after its earnings report

Digital Content Manager
Nov 16, 2021 at 11:11 AM
facebook X logo linkedin


Lucid Group Inc (NASDAQ:LCID) is up 9.4% at $49.01 this morning, hitting its highest level since February after posting smaller-than-expected third-quarter losses of 21 cents per share. The electric vehicle concern said reservations jumped to 13,000 last quarter, amounting to an order book of roughly $1.3 billion, with numbers now beyond 17,000. CEO Peter Rawlinson noted demand for its Lucid Air model is rising, predicting the production of 20,000 units by 2022. 

The security has been climbing up the charts in recent months, up over 92% quarter-to-date. Today's pop has also placed the security comfortably above the $48 level, which snuffed out a rally earlier this month. Year-over-year, Lucid Group stock is up a whopping 402.7%. 

Citigroup has chimed in, lifting its price target all the way to $57 from $28. The equity could attract even more bull notes, should these gains hold. The 12-month consensus price target of $23.33 is a 52.3% discount to current levels. Fresh coverage could also be on its way, as only two analysts are currently in coverage -- both at a "strong buy" rating. 

Options volume is surging this morning. So far, 295,000 calls and 150,000 puts have already crossed the tape -- double the intraday average. The most popular contract is the November 50 call, followed by the 60 call in the same series, with positions being sold to open at both. 

 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.