Deep-pocketed investors have adopted a bearish approach towards Robinhood Markets HOOD, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in HOOD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 35 extraordinary options activities for Robinhood Markets. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 31% leaning bullish and 68% bearish. Among these notable options, 2 are puts, totaling $859,600, and 33 are calls, amounting to $1,633,885.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $37.0 for Robinhood Markets, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Robinhood Markets stands at 17533.0, with a total volume reaching 25,491.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Robinhood Markets, situated within the strike price corridor from $8.0 to $37.0, throughout the last 30 days.
Robinhood Markets Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HOOD | PUT | TRADE | BULLISH | 11/15/24 | $1.66 | $1.62 | $1.62 | $15.00 | $810.0K | 2.4K | 0 |
| HOOD | CALL | SWEEP | BULLISH | 06/21/24 | $2.62 | $2.6 | $2.62 | $20.00 | $116.0K | 24.4K | 926 |
| HOOD | CALL | TRADE | BULLISH | 01/17/25 | $2.15 | $2.13 | $2.15 | $32.00 | $107.2K | 10.8K | 658 |
| HOOD | CALL | SWEEP | BEARISH | 01/17/25 | $3.5 | $3.4 | $3.4 | $25.00 | $99.2K | 66.9K | 692 |
| HOOD | CALL | SWEEP | BEARISH | 01/17/25 | $2.64 | $2.49 | $2.49 | $30.00 | $98.3K | 10.6K | 1.0K |
About Robinhood Markets
Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology. Its vertically integrated platform has enabled the introduction of new products and services such as cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access. It earns transaction-based revenues from routing user orders for options, equities, and cryptocurrencies to market makers when a routed order is executed.
Where Is Robinhood Markets Standing Right Now?
- Currently trading with a volume of 8,081,829, the HOOD's price is down by -1.14%, now at $19.9.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 37 days.
What Analysts Are Saying About Robinhood Markets
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $22.6.
- In a cautious move, an analyst from Bernstein downgraded its rating to Outperform, setting a price target of $30.
- An analyst from Deutsche Bank has decided to maintain their Hold rating on Robinhood Markets, which currently sits at a price target of $16.
- An analyst from Keybanc persists with their Overweight rating on Robinhood Markets, maintaining a target price of $22.
- An analyst from Mizuho persists with their Buy rating on Robinhood Markets, maintaining a target price of $20.
- In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $25.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Robinhood Markets options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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