Riot Platforms Options Trading: A Deep Dive into Market Sentiment

Deep-pocketed investors have adopted a bullish approach towards Riot Platforms RIOT, 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 RIOT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Riot Platforms. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 53% leaning bullish and 46% bearish. Among these notable options, 4 are puts, totaling $154,905, and 9 are calls, amounting to $420,652.

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 $10.0 to $40.0 for Riot Platforms over the last 3 months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Riot Platforms's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Riot Platforms's substantial trades, within a strike price spectrum from $10.0 to $40.0 over the preceding 30 days.

Riot Platforms Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

After a thorough review of the options trading surrounding Riot Platforms, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Riot Platforms

• With a trading volume of 8,085,538, the price of RIOT is down by -1.21%, reaching $11.46.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 51 days from now.

Expert Opinions on Riot Platforms

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $19.6.

• An analyst from HC Wainwright & Co. persists with their Buy rating on Riot Platforms, maintaining a target price of $20.
• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $20.
• Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Riot Platforms, targeting a price of $20.
• Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $20.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $18.

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.