Investors with a lot of money to spend have taken a bearish stance on Riot Platforms RIOT.
And retail traders should know.
We noticed this today when the trades 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 RIOT, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 26 uncommon options trades for Riot Platforms.
This isn't normal.
The overall sentiment of these big-money traders is split between 23% bullish and 69%, bearish.
Out of all of the special options we uncovered, 22 are puts, for a total amount of $2,262,976, and 4 are calls, for a total amount of $148,438.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $18.0 for Riot Platforms, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Riot Platforms stands at 2528.4, with a total volume reaching 53,082.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Riot Platforms, situated within the strike price corridor from $5.0 to $18.0, throughout the last 30 days.
Riot Platforms Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIOT | PUT | TRADE | BULLISH | 01/16/26 | $1.62 | $1.52 | $1.55 | $5.00 | $620.0K | 4.0K | 4.1K |
| RIOT | PUT | SWEEP | BEARISH | 01/17/25 | $5.0 | $4.95 | $5.0 | $11.00 | $174.5K | 6.6K | 1.2K |
| RIOT | PUT | SWEEP | BEARISH | 01/17/25 | $5.0 | $4.95 | $5.0 | $11.00 | $148.5K | 6.6K | 2.8K |
| RIOT | PUT | SWEEP | BEARISH | 01/17/25 | $5.0 | $4.95 | $5.0 | $11.00 | $133.5K | 6.6K | 3.7K |
| RIOT | PUT | SWEEP | BEARISH | 01/17/25 | $5.0 | $4.95 | $5.0 | $11.00 | $115.5K | 6.6K | 2.2K |
About Riot Platforms
Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment which generates revenue from the Bitcoin the company earns through its mining activities.
In light of the recent options history for Riot Platforms, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Riot Platforms
- Currently trading with a volume of 6,287,205, the RIOT's price is up by 3.13%, now at $6.58.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 57 days.
What The Experts Say On Riot Platforms
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $16.25.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $23.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Riot Platforms with a target price of $9.
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 Riot Platforms, 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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