Investors with a lot of money to spend have taken a bearish stance on United Rentals URI.
And retail traders should know.
We noticed this today when the trades 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 URI, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 18 uncommon options trades for United Rentals.
This isn't normal.
The overall sentiment of these big-money traders is split between 16% bullish and 61%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $274,666, and 10 are calls, for a total amount of $557,246.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $540.0 to $780.0 for United Rentals during the past quarter.
Analyzing 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 United Rentals's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across United Rentals's significant trades, within a strike price range of $540.0 to $780.0, over the past month.
United Rentals 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | CALL | SWEEP | BEARISH | 06/21/24 | $29.2 | $28.6 | $28.6 | $670.00 | $77.2K | 121 | 32 |
| URI | CALL | TRADE | BEARISH | 06/21/24 | $40.8 | $39.8 | $40.0 | $650.00 | $72.0K | 125 | 18 |
| URI | CALL | SWEEP | BEARISH | 06/21/24 | $139.4 | $135.6 | $130.0 | $540.00 | $65.9K | 235 | 0 |
| URI | CALL | TRADE | BEARISH | 06/21/24 | $39.3 | $38.4 | $38.6 | $650.00 | $61.7K | 125 | 46 |
| URI | CALL | SWEEP | NEUTRAL | 06/21/24 | $39.1 | $38.1 | $38.6 | $650.00 | $57.9K | 125 | 77 |
About United Rentals
United Rentals is the world's largest equipment rental company. It principally operates in the United States and Canada, where it commands approximately 17% share in a highly fragmented market. It serves three end markets: general industrial, commercial construction, and residential construction. Like its peers, United Rentals historically has provided its customers with equipment that was intermittently used, such as aerial equipment and portable generators. As the company has grown organically and through hundreds of acquisitions since it went public in 1997, its catalog (fleet size of $21 billion) now includes a range of specialty equipment and other items that can be rented for indefinite periods.
Having examined the options trading patterns of United Rentals, 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 United Rentals
- With a volume of 328,653, the price of URI is down -1.48% at $658.12.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 84 days.
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 United Rentals, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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