Riot Platforms's Options Frenzy: What You Need to Know

Deep-pocketed investors have adopted a bearish approach towards Riot Platforms RIOT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in RIOT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Riot Platforms. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 28% leaning bullish and 64% bearish. Among these notable options, 2 are puts, totaling $159,893, and 12 are calls, amounting to $521,424.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.0 to $20.0 for Riot Platforms 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 Riot Platforms's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Riot Platforms's substantial trades, within a strike price spectrum from $7.0 to $20.0 over the preceding 30 days.

Riot Platforms Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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.

In light of the recent options history for Riot Platforms, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Riot Platforms

• With a trading volume of 18,378,870, the price of RIOT is up by 3.18%, reaching $9.57.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 58 days from now.

Expert Opinions on Riot Platforms

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $18.9.

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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 $13. * An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Riot Platforms, which currently sits at a price target of $21. * An analyst from HC Wainwright & Co. downgraded its action to Buy with a price target of $17. * Reflecting concerns, an analyst from Roth MKM lowers its rating to Buy with a new price target of $20. * In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $23.

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.