Deep-pocketed investors have adopted a bullish approach towards Rivian Automotive RIVN, 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 RIVN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Rivian Automotive. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 4 are puts, totaling $358,690, and 6 are calls, amounting to $250,288.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.5 to $22.5 for Rivian Automotive over the last 3 months.
Insights into 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 Rivian Automotive's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Rivian Automotive's substantial trades, within a strike price spectrum from $7.5 to $22.5 over the preceding 30 days.
Rivian Automotive 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIVN | PUT | SWEEP | BEARISH | 03/15/24 | $20.00 | $133.4K | 6.1K | 16 |
| RIVN | PUT | SWEEP | BEARISH | 03/15/24 | $17.50 | $93.8K | 19.4K | 593 |
| RIVN | PUT | SWEEP | BULLISH | 01/19/24 | $22.50 | $77.6K | 7.7K | 129 |
| RIVN | CALL | SWEEP | BULLISH | 03/15/24 | $17.50 | $59.3K | 10.3K | 510 |
| RIVN | PUT | TRADE | BEARISH | 03/15/24 | $20.00 | $53.6K | 6.1K | 410 |
About Rivian Automotive
Rivian Automotive Inc designs, develops and manufactures category-defining electric vehicles and accessories. In the consumer market, the company launched the R1 platform with the first generation of consumer vehicles: the R1T, a two-row, five-passenger pickup truck, and the R1S, a three-row, seven-passenger sport utility vehicle (SUV).
Following our analysis of the options activities associated with Rivian Automotive, we pivot to a closer look at the company's own performance.
Present Market Standing of Rivian Automotive
- With a trading volume of 13,749,156, the price of RIVN is up by 1.07%, reaching $16.57.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 102 days from now.
Expert Opinions on Rivian Automotive
In the last month, 3 experts released ratings on this stock with an average target price of $25.0.
- An analyst from Cantor Fitzgerald upgraded its action to Overweight with a price target of $29.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Rivian Automotive with a target price of $19.
- Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Rivian Automotive with a target price of $27.
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 Rivian Automotive, Benzinga Pro gives you real-time options trades alerts.
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