Decoding Rivian Automotive's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Rivian Automotive RIVN.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with RIVN, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 22 uncommon options trades for Rivian Automotive.

This isn't normal.

The overall sentiment of these big-money traders is split between 59% bullish and 27%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $4,394,716, and 13 are calls, for a total amount of $1,345,674.

Predicted Price Range

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 $20.0 for Rivian Automotive, 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 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 trades within a strike price range from $7.5 to $20.0 in the last 30 days.

Rivian Automotive Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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.

Current Position of Rivian Automotive

• With a trading volume of 24,818,689, the price of RIVN is down by -0.73%, reaching $10.2.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 89 days from now.

Expert Opinions on Rivian Automotive

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $11.6.

• An analyst from Truist Securities downgraded its action to Hold with a price target of $10.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $13.
• An analyst from Truist Securities persists with their Hold rating on Rivian Automotive, maintaining a target price of $11.
• An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Rivian Automotive, which currently sits at a price target of $15.
• Showing optimism, an analyst from UBS upgrades its rating to Neutral with a revised price target of $9.

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 Rivian Automotive with Benzinga Pro for real-time alerts.