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 19 uncommon options trades for Rivian Automotive.
This isn't normal.
The overall sentiment of these big-money traders is split between 68% bullish and 15%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $605,179, and 12 are calls, for a total amount of $545,133.
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 $12.5 to $30.0 for Rivian Automotive during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Rivian Automotive options trades today is 8888.69 with a total volume of 9,085.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Rivian Automotive's big money trades within a strike price range of $12.5 to $30.0 over the last 30 days.
Rivian Automotive Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIVN | PUT | TRADE | NEUTRAL | 08/16/24 | $0.34 | $0.32 | $0.33 | $12.50 | $330.0K | 38.6K | 135 |
| RIVN | CALL | TRADE | BULLISH | 06/20/25 | $2.58 | $2.21 | $2.5 | $22.50 | $137.5K | 1.2K | 4 |
| RIVN | PUT | SWEEP | BULLISH | 09/20/24 | $4.9 | $4.85 | $4.85 | $20.00 | $73.7K | 1.9K | 13 |
| RIVN | PUT | SWEEP | BULLISH | 09/20/24 | $2.98 | $2.95 | $2.95 | $17.50 | $57.8K | 7.0K | 296 |
| RIVN | CALL | SWEEP | BULLISH | 09/20/24 | $2.21 | $2.19 | $2.22 | $16.00 | $55.5K | 2.4K | 2.1K |
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).
Rivian Automotive's Current Market Status
- Currently trading with a volume of 32,348,237, the RIVN's price is up by 2.52%, now at $15.88.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 28 days.
Professional Analyst Ratings for Rivian Automotive
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $18.0.
- An analyst from Guggenheim has revised its rating downward to Buy, adjusting the price target to $18.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Rivian Automotive with a target price of $20.
- Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Rivian Automotive with a target price of $19.
- An analyst from Wedbush has decided to maintain their Outperform rating on Rivian Automotive, which currently sits at a price target of $20.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Rivian Automotive with a target price of $13.
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 Rivian Automotive 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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