Investors with a lot of money to spend have taken a bullish stance on United Rentals URI.
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 URI, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for United Rentals.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,167, and 14, calls, for a total amount of $694,451.
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 $390.0 to $760.0 for United Rentals over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for United Rentals options trades today is 60.25 with a total volume of 64.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for United Rentals's big money trades within a strike price range of $390.0 to $760.0 over the last 30 days.
United Rentals 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | CALL | SWEEP | BEARISH | 10/18/24 | $37.4 | $36.1 | $36.1 | $760.00 | $72.2K | 19 | 22 |
| URI | CALL | TRADE | NEUTRAL | 09/20/24 | $180.4 | $173.7 | $176.9 | $590.00 | $70.7K | 7 | 4 |
| URI | CALL | SWEEP | BULLISH | 09/27/24 | $34.0 | $29.4 | $31.8 | $750.00 | $64.6K | 60 | 22 |
| URI | CALL | TRADE | BEARISH | 01/17/25 | $320.0 | $315.0 | $315.0 | $440.00 | $63.0K | 61 | 0 |
| URI | CALL | SWEEP | BULLISH | 09/20/24 | $51.7 | $48.0 | $51.7 | $700.00 | $56.2K | 159 | 11 |
About United Rentals
United Rentals is the world's largest equipment rental company. It principally operates in the United States and Canada, where it commands approximately 15% share in a highly fragmented market. It serves three end markets: general industrial, commercial construction, and residential construction. Like its peers, United Rentals historically has provided its customers with equipment that was intermittently used, such as aerial equipment and portable generators. As the company has grown organically and through hundreds of acquisitions since it went public in 1997, its catalog (fleet size of $21 billion) now includes a range of specialty equipment and other items that can be rented for indefinite periods.
After a thorough review of the options trading surrounding United Rentals, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is United Rentals Standing Right Now?
- Currently trading with a volume of 219,181, the URI's price is up by 2.98%, now at $764.07.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 36 days.
What The Experts Say On United Rentals
1 market experts have recently issued ratings for this stock, with a consensus target price of $795.0.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on United Rentals with a target price of $795.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for United Rentals, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
