Rocket Companies Unusual Options Activity

High-rolling investors have positioned themselves bullish on Rocket Companies RKT, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in RKT often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 13 options trades for Rocket Companies. This is not a typical pattern.

The sentiment among these major traders is split, with 53% bullish and 38% bearish. Among all the options we identified, there was one put, amounting to $31,020, and 12 calls, totaling $847,294.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $19.0 to $30.0 for Rocket Companies over the last 3 months.

Volume & Open Interest Trends

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 Rocket Companies'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 Rocket Companies's whale activity within a strike price range from $19.0 to $30.0 in the last 30 days.

Rocket Companies 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Rocket Companies

Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company's mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company's lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket's origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the U.S. as well as the servicer for more than 2 million loans.

Following our analysis of the options activities associated with Rocket Companies, we pivot to a closer look at the company's own performance.

Current Position of Rocket Companies

• With a volume of 2,559,964, the price of RKT is up 6.83% at $20.03.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 48 days.

What The Experts Say On Rocket Companies

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $15.875.

• Maintaining their stance, an analyst from B of A Securities continues to hold a Underperform rating for Rocket Companies, targeting a price of $14.
• An analyst from RBC Capital persists with their Sector Perform rating on Rocket Companies, maintaining a target price of $20.
• Maintaining their stance, an analyst from UBS continues to hold a Sell rating for Rocket Companies, targeting a price of $11.
• Maintaining their stance, an analyst from Wedbush continues to hold a Neutral rating for Rocket Companies, targeting a price of $18.

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 Rocket Companies options trades with real-time alerts from Benzinga Pro.