Financial giants have made a conspicuous bullish move on Riot Platforms. Our analysis of options history for Riot Platforms RIOT revealed 10 unusual trades.
Delving into the details, we found 70% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $63,525, and 8 were calls, valued at $348,030.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $35.0 for Riot Platforms during the past quarter.
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 $15.0 to $35.0, over the past month.
Riot Platforms 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | TRADE | BULLISH | 03/15/24 | $15.50 | $90.2K | 434 | 567 |
| RIOT | CALL | SWEEP | BULLISH | 03/01/24 | $16.00 | $60.6K | 1.2K | 1.0K |
| RIOT | CALL | SWEEP | BULLISH | 04/19/24 | $20.00 | $52.0K | 30.1K | 777 |
| RIOT | PUT | SWEEP | BEARISH | 06/21/24 | $17.00 | $37.2K | 727 | 88 |
| RIOT | CALL | SWEEP | BEARISH | 03/15/24 | $25.00 | $32.3K | 5.8K | 1.2K |
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.
Following our analysis of the options activities associated with Riot Platforms, we pivot to a closer look at the company's own performance.
Current Position of Riot Platforms
- Currently trading with a volume of 10,921,679, the RIOT's price is up by 0.86%, now at $15.23.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 11 days.
Professional Analyst Ratings for 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 $18.0.
- Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Riot Platforms, targeting a price of $18.
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.
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