Decoding Sunrun's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Sunrun RUN.

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 RUN, 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 Sunrun.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $99,840, and 7 are calls, for a total amount of $793,799.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $14.0 to $17.5 for Sunrun over the last 3 months.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Sunrun's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Sunrun's whale trades within a strike price range from $14.0 to $17.5 in the last 30 days.

Sunrun 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Sunrun

Sunrun is engaged in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The company acquires customers directly and through relationships with various solar and strategic partners. The solar systems are constructed either by Sunrun or by Sunrun's partners and are owned by the company. Sunrun's customers typically enter into 20- to 25-year agreements to utilize its solar energy system. The company also sells solar energy systems and products, such as panels and racking, and solar leads generated to customers.

After a thorough review of the options trading surrounding Sunrun, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Sunrun's Current Market Status

• Trading volume stands at 5,101,845, with RUN's price up by 5.95%, positioned at $17.74.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 6 days.

Professional Analyst Ratings for Sunrun

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.5.

• An analyst from Barclays has decided to maintain their Equal-Weight rating on Sunrun, which currently sits at a price target of $19.
• An analyst from Susquehanna persists with their Positive rating on Sunrun, maintaining a target price of $24.
• An analyst from JP Morgan has decided to maintain their Overweight rating on Sunrun, which currently sits at a price target of $19.
• An analyst from Piper Sandler persists with their Overweight rating on Sunrun, maintaining a target price of $20.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Sunrun with Benzinga Pro for real-time alerts.