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 11 uncommon options trades for Riot Platforms.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $134,558, and 9 are calls, for a total amount of $479,903.
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 $6.0 to $20.0 for Riot Platforms during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Riot Platforms stands at 6770.5, with a total volume reaching 9,756.00. 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 $6.0 to $20.0, throughout the last 30 days.
Riot Platforms Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | TRADE | BEARISH | 01/17/25 | $2.1 | $2.07 | $2.07 | $10.00 | $206.1K | 21.3K | 1.5K |
| RIOT | PUT | SWEEP | BULLISH | 12/20/24 | $2.82 | $2.79 | $2.79 | $12.00 | $84.2K | 1.5K | 526 |
| RIOT | CALL | SWEEP | BEARISH | 01/16/26 | $3.75 | $3.65 | $3.65 | $12.00 | $53.6K | 6.7K | 153 |
| RIOT | PUT | TRADE | BEARISH | 01/16/26 | $5.05 | $4.95 | $5.03 | $12.00 | $50.3K | 4.5K | 300 |
| RIOT | CALL | TRADE | BEARISH | 01/16/26 | $4.3 | $4.25 | $4.25 | $10.00 | $42.5K | 14.4K | 1 |
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.
Riot Platforms's Current Market Status
- Trading volume stands at 23,599,230, with RIOT's price up by 4.2%, positioned at $10.18.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 6 days.
What Analysts Are Saying About Riot Platforms
1 market experts have recently issued ratings for this stock, with a consensus target price of $22.0.
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 Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $22.
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 Riot Platforms with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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