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 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 URI, 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 23 uncommon options trades for United Rentals.
This isn't normal.
The overall sentiment of these big-money traders is split between 39% bullish and 34%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $96,957, and 21 are calls, for a total amount of $1,251,347.
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 $470.0 and $740.0 for United Rentals, spanning the last 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 United Rentals's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across United Rentals's significant trades, within a strike price range of $470.0 to $740.0, over the past month.
United Rentals 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | CALL | TRADE | BEARISH | 08/16/24 | $23.4 | $19.8 | $21.1 | $700.00 | $422.0K | 78 | 200 |
| URI | CALL | TRADE | NEUTRAL | 07/19/24 | $45.9 | $40.4 | $43.0 | $630.00 | $86.0K | 120 | 25 |
| URI | PUT | TRADE | NEUTRAL | 06/20/25 | $44.3 | $37.0 | $40.58 | $570.00 | $60.8K | 35 | 0 |
| URI | CALL | TRADE | BULLISH | 07/19/24 | $50.0 | $45.2 | $50.0 | $620.00 | $60.0K | 85 | 1 |
| URI | CALL | TRADE | NEUTRAL | 01/16/26 | $121.0 | $114.0 | $117.7 | $700.00 | $58.8K | 156 | 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 15% 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.
Having examined the options trading patterns of United Rentals, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of United Rentals
- Trading volume stands at 351,472, with URI's price up by 3.55%, positioned at $668.09.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 13 days.
What The Experts Say On United Rentals
3 market experts have recently issued ratings for this stock, with a consensus target price of $760.0.
- An analyst from Truist Securities has decided to maintain their Buy rating on United Rentals, which currently sits at a price target of $785.
- In a cautious move, an analyst from Citigroup downgraded its rating to Buy, setting a price target of $745.
- In a cautious move, an analyst from Raymond James downgraded its rating to Outperform, setting a price target of $750.
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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