Deep-pocketed investors have adopted a bearish 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 19 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 47% leaning bullish and 52% bearish. Among these notable options, 4 are puts, totaling $423,673, and 15 are calls, amounting to $1,033,862.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $7.5 and $40.0 for Rivian Automotive, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Rivian Automotive'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 Rivian Automotive's whale activity within a strike price range from $7.5 to $40.0 in the last 30 days.
Rivian Automotive Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIVN | CALL | SWEEP | BULLISH | 06/21/24 | $15.00 | $396.0K | 63.2K | 8.4K |
| RIVN | PUT | SWEEP | BEARISH | 09/20/24 | $7.50 | $279.0K | 4.6K | 168 |
| RIVN | CALL | TRADE | BEARISH | 03/28/24 | $10.00 | $155.0K | 15.0K | 6.0K |
| RIVN | CALL | TRADE | BEARISH | 06/21/24 | $15.00 | $115.7K | 63.2K | 4.3K |
| RIVN | PUT | SWEEP | BEARISH | 07/19/24 | $15.00 | $70.7K | 327 | 162 |
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).
Where Is Rivian Automotive Standing Right Now?
- Trading volume stands at 23,809,375, with RIVN's price up by 1.77%, positioned at $11.5.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 68 days.
Expert Opinions on Rivian Automotive
5 market experts have recently issued ratings for this stock, with a consensus target price of $16.6.
- An analyst from Baird persists with their Outperform rating on Rivian Automotive, maintaining a target price of $23.
- An analyst from Evercore ISI Group persists with their Outperform rating on Rivian Automotive, maintaining a target price of $25.
- Reflecting concerns, an analyst from JP Morgan lowers its rating to Underweight with a new price target of $11.
- An analyst from Barclays downgraded its action to Equal-Weight with a price target of $16.
- An analyst from UBS downgraded its action to Sell with a price target of $8.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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