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 10 uncommon options trades for Rivian Automotive.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $150,722, and 7 are calls, for a total amount of $514,330.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $11.0 to $20.0 for Rivian Automotive over the recent three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Rivian Automotive's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Rivian Automotive's substantial trades, within a strike price spectrum from $11.0 to $20.0 over the preceding 30 days.
Rivian Automotive Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIVN | CALL | SWEEP | BULLISH | 01/16/26 | $3.7 | $3.6 | $3.7 | $20.00 | $221.6K | 21.5K | 12 |
| RIVN | CALL | TRADE | BEARISH | 12/20/24 | $5.2 | $4.7 | $4.7 | $11.00 | $94.0K | 3.2K | 0 |
| RIVN | PUT | SWEEP | BULLISH | 09/20/24 | $4.0 | $3.95 | $3.95 | $17.50 | $86.9K | 6.2K | 17 |
| RIVN | CALL | SWEEP | BEARISH | 12/18/26 | $6.4 | $6.0 | $6.2 | $15.00 | $63.7K | 896 | 14 |
| RIVN | CALL | SWEEP | BULLISH | 07/19/24 | $0.61 | $0.6 | $0.61 | $15.00 | $42.7K | 21.4K | 143 |
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).
After a thorough review of the options trading surrounding Rivian Automotive, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Rivian Automotive
- Currently trading with a volume of 12,905,672, the RIVN's price is down by -0.55%, now at $14.57.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 32 days.
What The Experts Say On Rivian Automotive
In the last month, 5 experts released ratings on this stock with an average target price of $17.2.
- An analyst from JP Morgan persists with their Underweight rating on Rivian Automotive, maintaining a target price of $14.
- In a cautious move, an analyst from Guggenheim downgraded its rating to Buy, setting a price target of $18.
- An analyst from Cantor Fitzgerald persists with their Overweight rating on Rivian Automotive, maintaining a target price of $19.
- An analyst from Barclays has decided to maintain their Equal-Weight rating on Rivian Automotive, which currently sits at a price target of $14.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Rivian Automotive, which currently sits at a price target of $21.
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 Rivian Automotive, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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