Rigetti Computing's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bearish stance on Rigetti Computing RGTI.

And retail traders should know.

We noticed this today when the positions 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 RGTI, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Rigetti Computing.

This isn't normal.

The overall sentiment of these big-money traders is split between 12% bullish and 62%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $30,000, and 7, calls, for a total amount of $379,880.

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 $25.0 for Rigetti Computing, spanning the last three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Rigetti Computing's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Rigetti Computing's significant trades, within a strike price range of $9.0 to $25.0, over the past month.

Rigetti Computing Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Rigetti Computing

Rigetti Computing Inc is engaged in the business of full-stack quantum computing. Its proprietary quantum-classical infrastructure provides ultra-low latency integration with public and private clouds for high-performance practical quantum computing. The company has developed the industry's first multi-chip quantum processor for scalable quantum computing systems. Geographically, it derives a majority of its revenue from the United States.

Having examined the options trading patterns of Rigetti Computing, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Rigetti Computing Standing Right Now?

• With a trading volume of 22,751,346, the price of RGTI is down by -0.29%, reaching $13.94.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 50 days from now.

Professional Analyst Ratings for Rigetti Computing

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $8.5.

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 B. Riley Securities has decided to maintain their Buy rating on Rigetti Computing, which currently sits at a price target of $8.

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 Rigetti Computing with Benzinga Pro for real-time alerts.