This Is What Whales Are Betting On Robinhood Markets

Investors with a lot of money to spend have taken a bullish stance on Robinhood Markets HOOD.

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 HOOD, 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 33 uncommon options trades for Robinhood Markets.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 27%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $240,339, and 28 are calls, for a total amount of $1,629,429.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.0 to $35.0 for Robinhood Markets over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Robinhood Markets stands at 8100.77, with a total volume reaching 51,911.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Robinhood Markets, situated within the strike price corridor from $12.0 to $35.0, throughout the last 30 days.

Robinhood Markets Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Robinhood Markets

Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology. Its vertically integrated platform has enabled the introduction of new products and services such as cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access. It earns transaction-based revenues from routing user orders for options, equities, and cryptocurrencies to market makers when a routed order is executed.

In light of the recent options history for Robinhood Markets, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Robinhood Markets's Current Market Status

• Currently trading with a volume of 15,355,363, the HOOD's price is up by 1.03%, now at $23.56.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 22 days.

What The Experts Say On Robinhood Markets

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $25.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Piper Sandler persists with their Overweight rating on Robinhood Markets, maintaining a target price of $27. * Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Robinhood Markets, targeting a price of $23. * An analyst from Deutsche Bank persists with their Buy rating on Robinhood Markets, maintaining a target price of $27. * Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Robinhood Markets 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 Robinhood Markets options trades with real-time alerts from Benzinga Pro.