Riot Platforms'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 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 23 uncommon options trades for Riot Platforms.

This isn't normal.

The overall sentiment of these big-money traders is split between 43% bullish and 52%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $619,604, and 17 are calls, for a total amount of $1,004,977.

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 $8.0 and $20.0 for Riot Platforms, spanning the last three months.

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 Riot Platforms'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 Riot Platforms's whale trades within a strike price range from $8.0 to $20.0 in the last 30 days.

Riot Platforms 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

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

Riot Platforms's Current Market Status

• Currently trading with a volume of 39,634,631, the RIOT's price is up by 3.66%, now at $13.46.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 27 days.

What The Experts Say On Riot Platforms

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $16.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Riot Platforms, targeting a price of $16.

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 Riot Platforms options trades with real-time alerts from Benzinga Pro.