Sunrun Unusual Options Activity

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 positions 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.

Today, Benzinga's options scanner spotted 8 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 options we uncovered, there was 1 put, for a total amount of $84,455, and 7, calls, for a total amount of $539,496.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $17.0 to $25.0 for Sunrun during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Sunrun stands at 2637.71, with a total volume reaching 7,899.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Sunrun, situated within the strike price corridor from $17.0 to $25.0, throughout the last 30 days.

Sunrun Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

Having examined the options trading patterns of Sunrun, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Sunrun

• Currently trading with a volume of 5,420,573, the RUN's price is up by 5.05%, now at $19.45.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 76 days.

Professional Analyst Ratings for Sunrun

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $23.4.

• In a cautious move, an analyst from Truist Securities downgraded its rating to Hold, setting a price target of $18.
• An analyst from Evercore ISI Group persists with their Outperform rating on Sunrun, maintaining a target price of $38.
• Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Sunrun, targeting a price of $18.
• Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Sunrun with a target price of $20.
• Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Sunrun with a target price of $23.

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 Sunrun options trades with real-time alerts from Benzinga Pro.