Rigetti Computing Unusual Options Activity

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

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 RGTI, 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 10 uncommon options trades for Rigetti Computing.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 30%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $88,213, and 8 are calls, for a total amount of $299,263.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $3.0 to $19.0 for Rigetti Computing over the last 3 months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Rigetti Computing's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Rigetti Computing's substantial trades, within a strike price spectrum from $3.0 to $19.0 over the preceding 30 days.

Rigetti Computing 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

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

Current Position of Rigetti Computing

• Trading volume stands at 22,406,440, with RGTI's price down by -1.4%, positioned at $10.6.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 17 days.

What The Experts Say On Rigetti Computing

In the last month, 2 experts released ratings on this stock with an average target price of $14.5.

Turn $1000 into $1270 in just 20 days?

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 Benchmark continues to hold a Buy rating for Rigetti Computing, targeting a price of $14. * Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Rigetti Computing, targeting a price of $15.

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 Rigetti Computing options trades with real-time alerts from Benzinga Pro.