Financial giants have made a conspicuous bullish move on Riot Platforms. Our analysis of options history for Riot Platforms RIOT revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $89,910, and 6 were calls, valued at $238,924.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2.0 to $20.0 for Riot Platforms over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Riot Platforms options trades today is 5306.0 with a total volume of 2,996.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Riot Platforms's big money trades within a strike price range of $2.0 to $20.0 over the last 30 days.
Riot Platforms Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | SWEEP | BEARISH | 06/21/24 | $2.11 | $2.1 | $2.1 | $8.50 | $52.3K | 183 | 113 |
| RIOT | CALL | SWEEP | BEARISH | 09/20/24 | $1.89 | $1.68 | $1.74 | $12.00 | $51.8K | 7.0K | 33 |
| RIOT | PUT | TRADE | BULLISH | 06/21/24 | $9.2 | $9.1 | $9.1 | $20.00 | $46.4K | 172 | 0 |
| RIOT | PUT | TRADE | BULLISH | 09/20/24 | $4.4 | $4.35 | $4.35 | $14.00 | $43.4K | 2.1K | 5 |
| RIOT | CALL | TRADE | BEARISH | 09/20/24 | $2.78 | $2.74 | $2.75 | $9.00 | $41.2K | 4.6K | 18 |
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.
Having examined the options trading patterns of Riot Platforms, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Riot Platforms's Current Market Status
- Trading volume stands at 12,598,411, with RIOT's price down by -0.28%, positioned at $10.61.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 55 days.
What The Experts Say On Riot Platforms
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $16.25.
- An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $17.
- Consistent in their evaluation, an analyst from B. Riley Securities keeps a Buy rating on Riot Platforms with a target price of $13.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Riot Platforms, which currently sits at a price target of $12.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $23.
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 Riot Platforms 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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