Investors with a lot of money to spend have taken a bearish stance on Riot Platforms RIOT.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with RIOT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Riot Platforms.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $126,000, and 7, calls, for a total amount of $292,094.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $9.0 to $22.0 for Riot Platforms over the recent three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Riot Platforms's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Riot Platforms's significant trades, within a strike price range of $9.0 to $22.0, over the past month.
Riot Platforms Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIOT | PUT | TRADE | NEUTRAL | 01/17/25 | $10.00 | $126.0K | 6.9K | 401 |
| RIOT | CALL | SWEEP | BEARISH | 02/02/24 | $11.00 | $95.2K | 3.4K | 1.3K |
| RIOT | CALL | TRADE | BEARISH | 01/17/25 | $22.00 | $42.5K | 3.4K | 176 |
| RIOT | CALL | SWEEP | BEARISH | 09/20/24 | $9.00 | $37.6K | 24 | 50 |
| RIOT | CALL | SWEEP | BEARISH | 03/01/24 | $15.00 | $34.0K | 1.5K | 1.1K |
About Riot Platforms
Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. Distributed blockchain technology is a decentralized and encrypted ledger that is designed to offer a secure, efficient, verifiable, and permanent way of storing records and other information without the need for intermediaries. It serves as a medium of exchange, store of value, or unit of account. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment.
In light of the recent options history for Riot Platforms, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Riot Platforms
- With a trading volume of 11,701,806, the price of RIOT is up by 0.09%, reaching $11.36.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 31 days from now.
Expert Opinions on Riot Platforms
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $19.0.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $19.
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 Riot Platforms with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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