Decoding Robinhood Markets's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Robinhood Markets HOOD.

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 HOOD, 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 28 uncommon options trades for Robinhood Markets.

This isn't normal.

The overall sentiment of these big-money traders is split between 39% bullish and 35%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $312,850, and 23 are calls, for a total amount of $1,726,781.

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 $13.0 to $40.0 for Robinhood Markets during the past quarter.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Robinhood Markets'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 Robinhood Markets's whale trades within a strike price range from $13.0 to $40.0 in the last 30 days.

Robinhood Markets Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About Robinhood Markets

Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology. Its vertically integrated platform has enabled the introduction of new products and services such as cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access. It earns transaction-based revenues from routing user orders for options, equities, and cryptocurrencies to market makers when a routed order is executed.

Following our analysis of the options activities associated with Robinhood Markets, we pivot to a closer look at the company's own performance.

Current Position of Robinhood Markets

• Trading volume stands at 19,794,024, with HOOD's price up by 10.74%, positioned at $33.82.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 92 days.

What The Experts Say On Robinhood Markets

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $26.4.

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. * Maintaining their stance, an analyst from JP Morgan continues to hold a Underweight rating for Robinhood Markets, targeting a price of $21. * An analyst from Keybanc persists with their Overweight rating on Robinhood Markets, maintaining a target price of $30. * Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Robinhood Markets, targeting a price of $33. * Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Robinhood Markets with a target price of $26. * Consistent in their evaluation, an analyst from Goldman Sachs keeps a Neutral rating on Robinhood Markets with a target price of $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 Robinhood Markets with Benzinga Pro for real-time alerts.