Behind the Scenes of Rivian Automotive's Latest Options Trends

Investors with a lot of money to spend have taken a bullish stance on Rivian Automotive RIVN.

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 RIVN, 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 12 uncommon options trades for Rivian Automotive.

This isn't normal.

The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $489,052, and 4 are calls, for a total amount of $201,674.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $12.5 for Rivian Automotive over the last 3 months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Rivian Automotive's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Rivian Automotive's substantial trades, within a strike price spectrum from $5.0 to $12.5 over the preceding 30 days.

Rivian Automotive Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Rivian Automotive

Rivian Automotive Inc designs, develops, and manufactures category-defining electric vehicles and accessories. In the consumer market, the company launched the R1 platform with the first generation of consumer vehicles: the R1T, a two-row, five-passenger pickup truck, and the R1S, a three-row, seven-passenger sport utility vehicle (SUV).

Having examined the options trading patterns of Rivian Automotive, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Rivian Automotive's Current Market Status

• With a volume of 21,643,057, the price of RIVN is up 4.93% at $10.54.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 76 days.

What Analysts Are Saying About Rivian Automotive

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $11.8.

• An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $13.
• In a cautious move, an analyst from Truist Securities downgraded its rating to Hold, setting a price target of $10.
• An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Rivian Automotive, which currently sits at a price target of $15.
• An analyst from Wells Fargo persists with their Equal-Weight rating on Rivian Automotive, maintaining a target price of $10.
• An analyst from Mizuho has decided to maintain their Neutral rating on Rivian Automotive, which currently sits at a price target of $11.

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 Rivian Automotive, Benzinga Pro gives you real-time options trades alerts.