High-rolling investors have positioned themselves bullish on Redfin RDFN, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in RDFN often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Redfin. This is not a typical pattern.
The sentiment among these major traders is split, with 44% bullish and 33% bearish. Among all the options we identified, there was one put, amounting to $31,200, and 8 calls, totaling $252,828.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.0 to $30.0 for Redfin over the last 3 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 Redfin'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 Redfin's whale activity within a strike price range from $7.0 to $30.0 in the last 30 days.
Redfin 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDFN | CALL | SWEEP | BULLISH | 01/17/25 | $0.2 | $0.15 | $0.19 | $30.00 | $54.7K | 7.5K | 5.2K |
| RDFN | CALL | SWEEP | BULLISH | 01/17/25 | $0.15 | $0.1 | $0.15 | $30.00 | $34.1K | 7.5K | 2.2K |
| RDFN | PUT | TRADE | BEARISH | 01/16/26 | $1.6 | $1.45 | $1.56 | $7.00 | $31.2K | 1.4K | 206 |
| RDFN | CALL | SWEEP | BULLISH | 11/15/24 | $1.9 | $1.8 | $1.9 | $11.00 | $30.4K | 3.7K | 171 |
| RDFN | CALL | SWEEP | BEARISH | 11/15/24 | $1.85 | $1.75 | $1.75 | $11.00 | $28.0K | 3.7K | 333 |
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.
In light of the recent options history for Redfin, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Redfin
- With a volume of 6,326,345, the price of RDFN is up 5.36% at $11.5.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 49 days.
Expert Opinions on Redfin
In the last month, 1 experts released ratings on this stock with an average target price of $13.0.
- An analyst from B. Riley Securities has elevated its stance to Buy, setting a new price target at $13.
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 Redfin, 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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