High-rolling investors have positioned themselves bearish 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 14 options trades for Redfin. This is not a typical pattern.
The sentiment among these major traders is split, with 35% bullish and 57% bearish. Among all the options we identified, there was one put, amounting to $210,000, and 13 calls, totaling $551,896.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $9.0 and $20.0 for Redfin, spanning the last three months.
Volume & Open Interest Development
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 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 trades within a strike price range from $9.0 to $20.0 in the last 30 days.
Redfin 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDFN | PUT | TRADE | BEARISH | 12/27/24 | $0.7 | $0.55 | $0.7 | $9.00 | $210.0K | 10 | 3.0K |
| RDFN | CALL | SWEEP | BULLISH | 01/16/26 | $1.9 | $1.9 | $1.9 | $20.00 | $114.0K | 8.7K | 978 |
| RDFN | CALL | SWEEP | BEARISH | 01/16/26 | $4.1 | $3.9 | $3.9 | $10.00 | $68.2K | 3.1K | 29 |
| RDFN | CALL | SWEEP | BEARISH | 02/21/25 | $1.65 | $1.6 | $1.6 | $11.00 | $48.0K | 1.5K | 517 |
| RDFN | CALL | SWEEP | BEARISH | 05/16/25 | $1.45 | $1.4 | $1.4 | $15.00 | $41.8K | 1.0K | 825 |
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
- Trading volume stands at 7,177,454, with RDFN's price up by 3.71%, positioned at $9.5.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 92 days.
What The Experts Say On Redfin
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $8.8125.
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. * Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Redfin with a target price of $8. * An analyst from Wedbush has decided to maintain their Neutral rating on Redfin, which currently sits at a price target of $10. * An analyst from Susquehanna persists with their Neutral rating on Redfin, maintaining a target price of $10. * An analyst from DA Davidson has decided to maintain their Neutral rating on Redfin, which currently sits at a price target of $7.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Redfin options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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