Someone with a lot of money to spend has taken a bullish stance on Robinhood Markets HOOD.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with HOOD, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Robinhood Markets.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $35,600, and 9, calls, for a total amount of $336,208..
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $11.0 to $15.0 for Robinhood Markets over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Robinhood Markets options trades today is 6691.62 with a total volume of 13,570.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Robinhood Markets's big money trades within a strike price range of $11.0 to $15.0 over the last 30 days.
Robinhood Markets Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HOOD | CALL | SWEEP | BEARISH | 07/14/23 | $11.00 | $46.3K | 9.8K | 1.0K |
| HOOD | CALL | SWEEP | BULLISH | 02/16/24 | $12.00 | $46.0K | 6.4K | 2.5K |
| HOOD | CALL | SWEEP | BULLISH | 02/16/24 | $12.00 | $45.7K | 6.4K | 2.2K |
| HOOD | CALL | SWEEP | BULLISH | 02/16/24 | $12.00 | $45.7K | 6.4K | 2.0K |
| HOOD | CALL | SWEEP | BULLISH | 07/21/23 | $12.00 | $41.8K | 11.1K | 2.5K |
Where Is Robinhood Markets Standing Right Now?
- With a volume of 8,842,709, the price of HOOD is up 2.97% at $11.11.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 23 days.
What The Experts Say On Robinhood Markets:
- JMP Securities downgraded its action to Market Outperform with a price target of $25
- Piper Sandler has decided to maintain their Neutral rating on Robinhood Markets, which currently sits at a price target of $11.
- JMP Securities downgraded its action to Market Outperform with a price target of $25
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Robinhood Markets, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
