Investors with a lot of money to spend have taken a bullish stance on Redfin RDFN.
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 RDFN, 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 13 uncommon options trades for Redfin.
This isn't normal.
The overall sentiment of these big-money traders is split between 76% bullish and 15%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $67,020, and 11 are calls, for a total amount of $590,836.
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 $5.0 to $20.0 for Redfin during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Redfin stands at 1671.44, with a total volume reaching 14,453.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Redfin, situated within the strike price corridor from $5.0 to $20.0, throughout the last 30 days.
Redfin Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDFN | CALL | SWEEP | BULLISH | 10/18/24 | $0.65 | $0.6 | $0.65 | $10.00 | $97.5K | 1 | 4.7K |
| RDFN | CALL | TRADE | NEUTRAL | 02/21/25 | $3.6 | $3.4 | $3.5 | $6.00 | $70.0K | 1.2K | 1.0K |
| RDFN | CALL | SWEEP | BEARISH | 02/21/25 | $3.7 | $3.5 | $3.5 | $6.00 | $70.0K | 1.2K | 823 |
| RDFN | CALL | TRADE | BULLISH | 01/17/25 | $3.9 | $3.6 | $3.8 | $5.00 | $69.5K | 1.0K | 193 |
| RDFN | CALL | SWEEP | BEARISH | 02/21/25 | $3.0 | $2.95 | $2.95 | $6.00 | $59.0K | 1.2K | 590 |
About Redfin
Redfin Corp is a residential real estate broker. It pairs its agents with the technology to create a service that is faster and costs less. The company meets customers through a listings-search website and mobile application. The company uses the same combination of technology and local service to originate mortgage loans and offer title and settlement services. It has five operating segments and three reportable segments, real estate services, rentals, and mortgage. The company generates the majority of its revenue from Real estate services.
Having examined the options trading patterns of Redfin, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Redfin's Current Market Status
- With a trading volume of 11,930,477, the price of RDFN is up by 17.83%, reaching $8.79.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 73 days from now.
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 Redfin with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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