Financial giants have made a conspicuous bearish move on Redfin. Our analysis of options history for Redfin RDFN revealed 11 unusual trades.
Delving into the details, we found 36% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $460,000, and 9 were calls, valued at $461,500.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.0 to $20.0 for Redfin over the recent three months.
Volume & Open Interest Trends
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 $8.0 to $20.0 over the preceding 30 days.
Redfin 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDFN | PUT | SWEEP | BEARISH | 10/18/24 | $0.9 | $0.8 | $0.9 | $10.00 | $435.0K | 96 | 5.0K |
| RDFN | CALL | SWEEP | BEARISH | 01/17/25 | $4.2 | $4.0 | $4.0 | $8.00 | $80.0K | 1.3K | 823 |
| RDFN | CALL | SWEEP | BEARISH | 01/17/25 | $4.1 | $3.9 | $3.92 | $8.00 | $78.1K | 1.3K | 623 |
| RDFN | CALL | SWEEP | BEARISH | 01/17/25 | $4.1 | $3.9 | $3.9 | $8.00 | $78.0K | 1.3K | 423 |
| RDFN | CALL | SWEEP | BEARISH | 01/16/26 | $2.3 | $2.25 | $2.25 | $20.00 | $68.4K | 5.8K | 319 |
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.
After a thorough review of the options trading surrounding Redfin, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Redfin's Current Market Status
- With a trading volume of 5,757,376, the price of RDFN is up by 0.95%, reaching $11.19.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 66 days from now.
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 Redfin 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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