Deep-pocketed investors have adopted a bearish approach towards RH RH, 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 RH 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 RH. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 62% bearish. Among these notable options, 6 are puts, totaling $279,538, and 2 are calls, amounting to $68,300.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $290.0 for RH over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for RH'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 RH's whale activity within a strike price range from $200.0 to $290.0 in the last 30 days.
RH Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RH | PUT | TRADE | BULLISH | 09/20/24 | $29.2 | $28.6 | $28.6 | $270.00 | $60.0K | 215 | 22 |
| RH | PUT | SWEEP | BEARISH | 08/09/24 | $14.6 | $12.3 | $13.63 | $275.00 | $54.3K | 71 | 60 |
| RH | PUT | TRADE | BEARISH | 01/16/26 | $67.0 | $65.8 | $67.0 | $270.00 | $46.9K | 51 | 7 |
| RH | PUT | SWEEP | BULLISH | 09/20/24 | $31.1 | $30.4 | $30.4 | $270.00 | $45.6K | 215 | 44 |
| RH | PUT | TRADE | BEARISH | 09/20/24 | $41.0 | $40.3 | $41.0 | $290.00 | $41.0K | 658 | 10 |
About RH
RH is a luxury retailer operating in the $134 billion domestic furniture and home furnishing industry. The firm offers merchandise across many categories including furniture, lighting, textiles, bath, decor, children, and is growing the presence of its hospitality business (with 17 restaurant locations). RH innovates, curates, and integrates products, categories, services, and businesses across channels and brand extensions (RH Modern and Waterworks, for example). RH is fully integrated across channels, and is positioned to broaden its total addressable market over the next decade by expanding abroad, and with its World of RH digital platform (highlighting offerings outside of home furnishings), along with future offerings in color, bespoke furniture, architeture, media, and more.
After a thorough review of the options trading surrounding RH, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is RH Standing Right Now?
- Trading volume stands at 276,098, with RH's price down by -0.91%, positioned at $251.24.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 29 days.
Expert Opinions on RH
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $315.0.
- An analyst from Stifel has revised its rating downward to Buy, adjusting the price target to $315.
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 RH with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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