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 positions 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.
Today, Benzinga's options scanner spotted 10 options trades for United Rentals.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $26,400, and 9, calls, for a total amount of $429,097.
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 $600.0 to $740.0 for United Rentals during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of United Rentals stands at 151.5, with a total volume reaching 92.00. 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 $600.0 to $740.0, throughout the last 30 days.
United Rentals 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | CALL | TRADE | BEARISH | 09/20/24 | $154.0 | $150.0 | $150.0 | $600.00 | $75.0K | 193 | 5 |
| URI | CALL | SWEEP | BEARISH | 12/20/24 | $78.9 | $75.4 | $76.49 | $740.00 | $61.2K | 37 | 16 |
| URI | CALL | TRADE | BEARISH | 12/20/24 | $78.8 | $74.5 | $75.57 | $740.00 | $60.4K | 37 | 28 |
| URI | CALL | TRADE | BULLISH | 01/17/25 | $124.0 | $120.3 | $124.0 | $670.00 | $49.6K | 27 | 4 |
| URI | CALL | TRADE | BULLISH | 01/16/26 | $152.0 | $149.1 | $152.0 | $730.00 | $45.6K | 8 | 3 |
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 15% 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.
Following our analysis of the options activities associated with United Rentals, we pivot to a closer look at the company's own performance.
Present Market Standing of United Rentals
- Currently trading with a volume of 163,186, the URI's price is up by 1.21%, now at $747.29.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 1 days.
Professional Analyst Ratings for United Rentals
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $760.0.
- Reflecting concerns, an analyst from Citigroup lowers its rating to Buy with a new price target of $745.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on United Rentals with a target price of $785.
- In a cautious move, an analyst from Raymond James downgraded its rating to Outperform, setting a price target of $750.
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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