Rivian Automotive Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Rivian Automotive RIVN.

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 RIVN, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 21 options trades for Rivian Automotive.

This isn't normal.

The overall sentiment of these big-money traders is split between 71% bullish and 23%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $28,600, and 20, calls, for a total amount of $1,316,552.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $30.0 for Rivian Automotive during the past quarter.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Rivian Automotive options trades today is 12111.62 with a total volume of 41,528.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Rivian Automotive's big money trades within a strike price range of $10.0 to $30.0 over the last 30 days.

Rivian Automotive Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Rivian Automotive

Rivian Automotive Inc is an automotive manufacturer that develops and builds electric vehicles ("EVs") as well as software and services. It launches its consumer vehicle business with the R1 platform consisting of two vehicles: the R1T, and the R1S. The company has two reportable segments: Automotive, which derives the majority of revenue, and Software and Services segment. The Automotive reportable segment derives its revenues and cost of revenues from the production and sale of new EVs and the sale of regulatory credits generated by the production and sale of EVs. The Software and services reportable segment derives its revenues and cost of revenues primarily from remarketing, vehicle repair and maintenance services, and vehicle electrical architecture and software development services.

Where Is Rivian Automotive Standing Right Now?

• Trading volume stands at 9,797,035, with RIVN's price up by 3.51%, positioned at $12.53.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 40 days.

What The Experts Say On Rivian Automotive

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $14.0.

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. * Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Rivian Automotive, targeting a price of $11. * An analyst from Piper Sandler downgraded its action to Neutral with a price target of $13. * Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $18.

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 Rivian Automotive options trades with real-time alerts from Benzinga Pro.