Whales with a lot of money to spend have taken a noticeably bearish stance on Redfin.
Looking at options history for Redfin RDFN we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 0% of the investors opened trades with bullish expectations and 87% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $73,800 and 6, calls, for a total amount of $816,165.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $10.0 for Redfin over the recent three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Redfin's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Redfin's substantial trades, within a strike price spectrum from $5.0 to $10.0 over the preceding 30 days.
Redfin Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDFN | CALL | SWEEP | BEARISH | 01/16/26 | $3.6 | $3.4 | $3.45 | $5.00 | $471.6K | 8.4K | 1.0K |
| RDFN | CALL | SWEEP | BEARISH | 01/16/26 | $3.6 | $3.5 | $3.5 | $5.00 | $87.5K | 8.4K | 510 |
| RDFN | CALL | TRADE | NEUTRAL | 01/16/26 | $3.6 | $3.4 | $3.5 | $5.00 | $87.5K | 8.4K | 260 |
| RDFN | CALL | TRADE | BEARISH | 01/16/26 | $3.6 | $3.4 | $3.4 | $5.00 | $85.0K | 8.4K | 10 |
| RDFN | CALL | SWEEP | BEARISH | 01/16/26 | $3.6 | $3.5 | $3.5 | $5.00 | $58.8K | 8.4K | 760 |
About Redfin
Redfin Corp is a residential real estate broker. It pairs its agents with the technology to create a service that is faster and costs less. The company meets customers through a listings-search website and mobile application. The company uses the same combination of technology and local service to originate mortgage loans and offer title and settlement services. It has five operating segments and three reportable segments, real estate services, rentals, and mortgage. The company generates the majority of its revenue from Real estate services.
Following our analysis of the options activities associated with Redfin, we pivot to a closer look at the company's own performance.
Redfin's Current Market Status
- Currently trading with a volume of 4,757,793, the RDFN's price is up by 5.89%, now at $6.83.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 21 days.
What The Experts Say On Redfin
In the last month, 1 experts released ratings on this stock with an average target price of $7.25.
- An analyst from DA Davidson has decided to maintain their Neutral rating on Redfin, which currently sits at a price target of $7.
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 Redfin, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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