Deep-pocketed investors have adopted a bearish approach towards United Rentals URI, 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 URI usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for United Rentals. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 27% leaning bullish and 72% bearish. Among these notable options, 2 are puts, totaling $111,320, and 9 are calls, amounting to $693,461.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $520.0 to $640.0 for United Rentals over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of United Rentals stands at 232.22, with a total volume reaching 40.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United Rentals, situated within the strike price corridor from $520.0 to $640.0, throughout the last 30 days.
United Rentals Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| URI | CALL | SWEEP | BULLISH | 01/05/24 | $520.00 | $295.0K | 95 | 0 |
| URI | CALL | SWEEP | BEARISH | 01/19/24 | $520.00 | $94.5K | 592 | 0 |
| URI | CALL | SWEEP | BULLISH | 06/21/24 | $640.00 | $74.0K | 119 | 0 |
| URI | CALL | SWEEP | BEARISH | 01/19/24 | $560.00 | $64.0K | 629 | 20 |
| URI | PUT | TRADE | BULLISH | 06/21/24 | $580.00 | $58.1K | 22 | 0 |
About United Rentals
United Rentals is the world's largest equipment rental company. It principally operates in the United States and Canada, where it commands approximately 17% share in a highly fragmented market. It serves three end markets: general industrial, commercial construction, and residential construction. Like its peers, United Rentals historically has provided its customers with equipment that was intermittently used, such as aerial equipment and portable generators. As the company has grown organically and through hundreds of acquisitions since it went public in 1997, its catalog (fleet size of $21 billion) now includes a range of specialty equipment and other items that can be rented for indefinitely long periods.
After a thorough review of the options trading surrounding United Rentals, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of United Rentals
- Currently trading with a volume of 122,246, the URI's price is down by -0.15%, now at $579.61.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 28 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for United Rentals with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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