Unpacking the Latest Options Trading Trends in Rocket Companies

Financial giants have made a conspicuous bullish move on Rocket Companies. Our analysis of options history for Rocket Companies RKT revealed 8 unusual trades.

Delving into the details, we found 62% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $84,420, and 6 were calls, valued at $3,109,538.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $25.0 for Rocket Companies during the past quarter.

Insights into 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 Rocket Companies's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Rocket Companies's significant trades, within a strike price range of $15.0 to $25.0, over the past month.

Rocket Companies Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

About Rocket Companies

Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company's mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company's lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket's origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the U.S. as well as the servicer for more than 2 million loans.

In light of the recent options history for Rocket Companies, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Rocket Companies

• With a volume of 1,430,043, the price of RKT is up 1.89% at $19.18.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 73 days.

Professional Analyst Ratings for Rocket Companies

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $15.2.

• An analyst from Deutsche Bank persists with their Hold rating on Rocket Companies, maintaining a target price of $15.
• An analyst from RBC Capital has decided to maintain their Sector Perform rating on Rocket Companies, which currently sits at a price target of $16.
• Maintaining their stance, an analyst from Wedbush continues to hold a Neutral rating for Rocket Companies, targeting a price of $15.
• An analyst from Wells Fargo persists with their Equal-Weight rating on Rocket Companies, maintaining a target price of $15.
• An analyst from JP Morgan has decided to maintain their Underweight rating on Rocket Companies, which currently sits at a price target of $15.

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 Rocket Companies with Benzinga Pro for real-time alerts.