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 12 uncommon options trades for United Rentals.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 66%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $333,956, and 5 are calls, for a total amount of $182,684.
Expected Price Movements
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 $700.0 for United Rentals during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of United Rentals stands at 107.8, with a total volume reaching 15.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United Rentals, situated within the strike price corridor from $540.0 to $700.0, throughout the last 30 days.
United Rentals Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | PUT | TRADE | BULLISH | 06/21/24 | $93.9 | $92.0 | $92.0 | $695.00 | $92.0K | 27 | 0 |
| URI | PUT | TRADE | BEARISH | 08/16/24 | $15.0 | $11.3 | $15.0 | $550.00 | $75.0K | 463 | 0 |
| URI | CALL | TRADE | BEARISH | 01/16/26 | $131.0 | $128.0 | $128.0 | $600.00 | $64.0K | 27 | 0 |
| URI | PUT | SWEEP | BEARISH | 06/21/24 | $82.5 | $77.6 | $82.49 | $690.00 | $49.5K | 85 | 0 |
| URI | PUT | TRADE | BULLISH | 06/21/24 | $95.5 | $93.2 | $93.2 | $700.00 | $37.2K | 71 | 0 |
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
Current Position of United Rentals
- Trading volume stands at 306,261, with URI's price down by -2.97%, positioned at $609.2.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 40 days.
What The Experts Say On United Rentals
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $780.0.
- An analyst from JP Morgan has revised its rating downward to Overweight, adjusting the price target to $780.
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 United Rentals 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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