Deep-pocketed investors have adopted a bullish approach towards United Rentals URI, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in URI usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for United Rentals. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 27% bearish. Among these notable options, 3 are puts, totaling $115,000, and 15 are calls, amounting to $746,991.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $210.0 to $900.0 for United Rentals over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for United Rentals's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of United Rentals's whale activity within a strike price range from $210.0 to $900.0 in the last 30 days.
United Rentals Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | CALL | SWEEP | BULLISH | 07/26/24 | $77.1 | $72.2 | $76.21 | $680.00 | $152.4K | 37 | 20 |
| URI | CALL | SWEEP | NEUTRAL | 12/20/24 | $79.7 | $77.7 | $78.22 | $790.00 | $109.5K | 6 | 12 |
| URI | CALL | TRADE | BULLISH | 09/20/24 | $140.3 | $132.7 | $137.5 | $630.00 | $68.7K | 61 | 0 |
| URI | CALL | TRADE | BULLISH | 08/16/24 | $28.1 | $26.8 | $28.1 | $790.00 | $56.2K | 18 | 20 |
| URI | PUT | TRADE | BULLISH | 01/16/26 | $2.45 | $2.4 | $2.4 | $210.00 | $42.0K | 12 | 200 |
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.
Current Position of United Rentals
- With a volume of 553,711, the price of URI is up 0.36% at $756.96.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 89 days.
What Analysts Are Saying About United Rentals
In the last month, 4 experts released ratings on this stock with an average target price of $828.25.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on United Rentals with a target price of $785.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on United Rentals, which currently sits at a price target of $905.
- In a cautious move, an analyst from Raymond James downgraded its rating to Outperform, setting a price target of $750.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for United Rentals, targeting a price of $873.
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 United Rentals, 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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