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 10 options trades for Riot Platforms.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,750, and 9, calls, for a total amount of $504,725.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $20.0 for Riot Platforms over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Riot Platforms options trades today is 3613.88 with a total volume of 5,254.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Riot Platforms's big money trades within a strike price range of $10.0 to $20.0 over the last 30 days.
Riot Platforms Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | TRADE | BEARISH | 06/21/24 | $18.00 | $96.2K | 5.6K | 1.8K |
| RIOT | CALL | SWEEP | BEARISH | 06/21/24 | $18.00 | $96.2K | 5.6K | 1.3K |
| RIOT | CALL | TRADE | BEARISH | 06/21/24 | $18.00 | $75.0K | 5.6K | 851 |
| RIOT | CALL | SWEEP | BULLISH | 03/01/24 | $20.00 | $70.0K | 2.2K | 338 |
| RIOT | CALL | SWEEP | BEARISH | 03/01/24 | $12.00 | $46.5K | 824 | 100 |
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.
Having examined the options trading patterns of Riot Platforms, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Riot Platforms
- With a volume of 3,747,160, the price of RIOT is up 0.73% at $16.65.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 13 days.
What Analysts Are Saying About Riot Platforms
In the last month, 2 experts released ratings on this stock with an average target price of $18.5.
- An analyst from Needham has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $18.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $19.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Riot Platforms, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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