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 17 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 52% leaning bullish and 23% bearish. Among these notable options, 2 are puts, totaling $60,500, and 15 are calls, amounting to $601,221.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $720.0 to $940.0 for United Rentals during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of United Rentals stands at 127.71, with a total volume reaching 196.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United Rentals, situated within the strike price corridor from $720.0 to $940.0, throughout the last 30 days.
United Rentals Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | CALL | TRADE | NEUTRAL | 11/15/24 | $63.0 | $59.3 | $61.0 | $820.00 | $61.0K | 245 | 11 |
| URI | CALL | TRADE | BULLISH | 12/20/24 | $54.1 | $52.6 | $53.6 | $860.00 | $58.9K | 38 | 28 |
| URI | CALL | TRADE | BULLISH | 12/20/24 | $22.7 | $19.5 | $22.7 | $940.00 | $56.7K | 7 | 25 |
| URI | CALL | TRADE | BULLISH | 11/15/24 | $56.1 | $50.9 | $54.0 | $830.00 | $54.0K | 629 | 11 |
| URI | CALL | SWEEP | BEARISH | 12/20/24 | $51.9 | $49.9 | $50.32 | $860.00 | $50.3K | 38 | 38 |
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.
In light of the recent options history for United Rentals, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of United Rentals
- Currently trading with a volume of 138,882, the URI's price is up by 1.97%, now at $850.07.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 7 days.
Professional Analyst Ratings for United Rentals
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $941.3333333333334.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from JP Morgan has decided to maintain their Overweight rating on United Rentals, which currently sits at a price target of $940. * Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for United Rentals, targeting a price of $954. * An analyst from Citigroup has decided to maintain their Buy rating on United Rentals, which currently sits at a price target of $930.
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 United Rentals with Benzinga Pro for real-time alerts.
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