Whales with a lot of money to spend have taken a noticeably bullish stance on Root.
Looking at options history for Root ROOT we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 22% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $300,011 and 3, calls, for a total amount of $948,496.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $130.0 for Root, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Root's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Root's substantial trades, within a strike price spectrum from $70.0 to $130.0 over the preceding 30 days.
Root Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROOT | CALL | SWEEP | BULLISH | 12/20/24 | $17.4 | $15.2 | $17.4 | $105.00 | $595.9K | 441 | 46 |
| ROOT | CALL | TRADE | NEUTRAL | 12/20/24 | $36.7 | $33.8 | $35.25 | $70.00 | $176.2K | 767 | 100 |
| ROOT | CALL | SWEEP | BULLISH | 12/20/24 | $35.2 | $33.8 | $35.25 | $70.00 | $176.2K | 767 | 50 |
| ROOT | PUT | TRADE | BEARISH | 12/19/25 | $54.5 | $51.6 | $53.5 | $125.00 | $96.3K | 0 | 18 |
| ROOT | PUT | TRADE | NEUTRAL | 03/21/25 | $28.9 | $26.6 | $27.66 | $110.00 | $55.3K | 8 | 35 |
About Root
Root Inc develops and launches a direct-to-consumer personal automobile insurance and mobile technology company. The company is a direct-to-consumer personal auto insurance, renters insurance and mobile technology company. It generates revenue from the sale of auto insurance policies within the United States.
Following our analysis of the options activities associated with Root, we pivot to a closer look at the company's own performance.
Root's Current Market Status
- With a volume of 291,436, the price of ROOT is up 7.4% at $108.55.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 91 days.
Expert Opinions on Root
In the last month, 3 experts released ratings on this stock with an average target price of $78.33333333333333.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Keefe, Bruyette & Woods downgraded its action to Outperform with a price target of $90. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Root, targeting a price of $67. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Root with a target price of $78.
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 Root with Benzinga Pro for real-time 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.
