Decoding Rigetti Computing's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bullish approach towards Rigetti Computing RGTI, 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 RGTI 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 Rigetti Computing. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 78% leaning bullish and 21% bearish. Among these notable options, 9 are puts, totaling $448,884, and 5 are calls, amounting to $2,028,759.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $7.0 to $13.0 for Rigetti Computing over the recent three months.

Analyzing Volume & Open Interest

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 $7.0 to $13.0 over the preceding 30 days.

Rigetti Computing Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Rigetti Computing

Rigetti Computing Inc is engaged in the business of full-stack quantum computing. The company offers full-stack quantum computing platform as a cloud service to a wide range of end-users, directly through its Rigetti QCS platform, and also through cloud service providers. 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, the company derives the majority of its revenue from the United States.

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

Where Is Rigetti Computing Standing Right Now?

• With a volume of 37,111,640, the price of RGTI is down -1.97% at $9.71.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 49 days.

Professional Analyst Ratings for Rigetti Computing

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $15.0.

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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. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $17. * Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Rigetti Computing, targeting a price of $14. * An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $14.

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.