Investors with a lot of money to spend have taken a bullish stance on United Rentals URI.
And retail traders should know.
We noticed this today when the positions 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 URI, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for United Rentals.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 25%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $27,747, and 7, calls, for a total amount of $282,464.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $600.0 to $690.0 for United Rentals over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of United Rentals stands at 67.5, with a total volume reaching 14.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United Rentals, situated within the strike price corridor from $600.0 to $690.0, throughout the last 30 days.
United Rentals Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | CALL | TRADE | BULLISH | 01/16/26 | $160.0 | $157.2 | $160.0 | $620.00 | $80.0K | 16 | 0 |
| URI | CALL | SWEEP | BULLISH | 09/20/24 | $61.5 | $55.3 | $58.8 | $650.00 | $47.0K | 86 | 0 |
| URI | CALL | TRADE | BEARISH | 06/14/24 | $20.7 | $16.6 | $18.25 | $650.00 | $36.5K | 52 | 11 |
| URI | CALL | TRADE | NEUTRAL | 08/16/24 | $35.5 | $33.3 | $34.44 | $680.00 | $34.4K | 24 | 2 |
| URI | CALL | TRADE | BULLISH | 06/14/24 | $30.0 | $20.3 | $30.0 | $620.00 | $30.0K | 17 | 0 |
About United Rentals
United Rentals is the world's largest equipment rental company. It principally operates in the United States and Canada, where it commands approximately 17% share in a highly fragmented market. It serves three end markets: general industrial, commercial construction, and residential construction. Like its peers, United Rentals historically has provided its customers with equipment that was intermittently used, such as aerial equipment and portable generators. As the company has grown organically and through hundreds of acquisitions since it went public in 1997, its catalog (fleet size of $21 billion) now includes a range of specialty equipment and other items that can be rented for indefinite periods.
In light of the recent options history for United Rentals, it's now appropriate to focus on the company itself. We aim to explore its current performance.
United Rentals's Current Market Status
- With a volume of 213,462, the price of URI is up 5.87% at $664.84.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 42 days.
What Analysts Are Saying About United Rentals
1 market experts have recently issued ratings for this stock, with a consensus target price of $780.0.
- In a cautious move, an analyst from JP Morgan downgraded its rating to Overweight, setting a price target of $780.
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 United Rentals 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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