High-rolling investors have positioned themselves bullish on Robinhood Markets HOOD, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in HOOD often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Robinhood Markets. This is not a typical pattern.
The sentiment among these major traders is split, with 72% bullish and 27% bearish. Among all the options we identified, there was one put, amounting to $29,900, and 10 calls, totaling $372,688.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $17.0 to $30.0 for Robinhood Markets over the recent three months.
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 Robinhood Markets's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Robinhood Markets's significant trades, within a strike price range of $17.0 to $30.0, over the past month.
Robinhood Markets Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HOOD | CALL | TRADE | BEARISH | 08/16/24 | $2.62 | $2.58 | $2.58 | $23.00 | $64.5K | 14.2K | 582 |
| HOOD | CALL | SWEEP | BULLISH | 07/19/24 | $0.95 | $0.94 | $0.95 | $23.00 | $50.3K | 10.2K | 3.1K |
| HOOD | CALL | SWEEP | BULLISH | 07/19/24 | $0.7 | $0.66 | $0.7 | $23.00 | $49.4K | 10.2K | 881 |
| HOOD | CALL | TRADE | BULLISH | 10/18/24 | $3.7 | $3.6 | $3.67 | $23.00 | $34.8K | 873 | 46 |
| HOOD | CALL | SWEEP | BULLISH | 02/21/25 | $3.2 | $3.15 | $3.15 | $30.00 | $33.3K | 4.6K | 1.5K |
About Robinhood Markets
Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology. Its vertically integrated platform has enabled the introduction of new products and services such as cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access. It earns transaction-based revenues from routing user orders for options, equities, and cryptocurrencies to market makers when a routed order is executed.
Having examined the options trading patterns of Robinhood Markets, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Robinhood Markets Standing Right Now?
- With a trading volume of 6,929,529, the price of HOOD is up by 6.55%, reaching $23.74.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 23 days from now.
What The Experts Say On Robinhood Markets
5 market experts have recently issued ratings for this stock, with a consensus target price of $22.0.
- In a positive move, an analyst from Wolfe Research has upgraded their rating to Outperform and adjusted the price target to $29.
- An analyst from Piper Sandler has decided to maintain their Neutral rating on Robinhood Markets, which currently sits at a price target of $20.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Neutral rating on Robinhood Markets with a target price of $21.
- An analyst from Barclays persists with their Underweight rating on Robinhood Markets, maintaining a target price of $20.
- An analyst from Deutsche Bank persists with their Hold rating on Robinhood Markets, maintaining a target price of $20.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Robinhood Markets with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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