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 8 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 75% leaning bullish and 25% bearish. Among these notable options, 3 are puts, totaling $485,620, and 5 are calls, amounting to $342,889.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $9.0 to $17.0 for Riot Platforms over the recent three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Riot Platforms's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Riot Platforms's significant trades, within a strike price range of $9.0 to $17.0, over the past month.

Riot Platforms Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

Riot Platforms's Current Market Status

• With a trading volume of 10,801,444, the price of RIOT is up by 1.2%, reaching $9.31.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 42 days from now.

Professional Analyst Ratings for Riot Platforms

5 market experts have recently issued ratings for this stock, with a consensus target price of $17.6.

• An analyst from B. Riley Securities has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $13.
• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $23.
• An analyst from JP Morgan has decided to maintain their Overweight rating on Riot Platforms, which currently sits at a price target of $12.
• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $23.
• An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $17.

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.