Financial giants have made a conspicuous bearish move on Riot Platforms. Our analysis of options history for Riot Platforms RIOT revealed 12 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $350,084, and 9 were calls, valued at $684,503.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $22.0 for Riot Platforms, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Riot Platforms's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Riot Platforms's whale trades within a strike price range from $10.0 to $22.0 in the last 30 days.
Riot Platforms 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 |
|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | SWEEP | BULLISH | 04/19/24 | $10.00 | $224.3K | 4.1K | 359 |
| RIOT | PUT | SWEEP | BEARISH | 03/15/24 | $12.00 | $187.4K | 15.3K | 3.6K |
| RIOT | CALL | SWEEP | BEARISH | 01/16/26 | $10.00 | $138.7K | 4.8K | 430 |
| RIOT | CALL | SWEEP | BULLISH | 03/01/24 | $14.00 | $99.0K | 1.7K | 2.9K |
| RIOT | PUT | SWEEP | BEARISH | 03/15/24 | $13.00 | $89.9K | 4.3K | 56 |
About Riot Platforms
Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment which generates revenue from the Bitcoin the company earns through its mining activities.
In light of the recent options history for Riot Platforms, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Riot Platforms's Current Market Status
- With a volume of 19,079,551, the price of RIOT is up 0.13% at $15.67.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 69 days.
Expert Opinions on Riot Platforms
In the last month, 4 experts released ratings on this stock with an average target price of $19.25.
- Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Riot Platforms, targeting a price of $20.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $20.
- An analyst from Needham persists with their Buy rating on Riot Platforms, maintaining a target price of $18.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $19.
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 Riot Platforms, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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