Unusual Options Activity In Lyft

Lyft will be delivering its first earnings report since its IPO after the market close on Tues. Lyft went public with shares priced at $72, opened a little over $87, but it has been all downhill from there.

On the first settlement day for Lyft shares, short sellers shorted over 6 million shares which represented about 20% of the available shares outstanding.  The drama continued when Lyft announced they were considering pursuing litigation after it accused Morgan Stanley of supporting short-selling.

Then Lyft got its first downgrade by Michael Ward of Seaport Global Securities.  He said Lyft’s current valuation bakes in “overly

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