This Is What Whales Are Betting On Riot Platforms

Investors with a lot of money to spend have taken a bullish stance on Riot Platforms RIOT.

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 RIOT, 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 12 uncommon options trades for Riot Platforms.

This isn't normal.

The overall sentiment of these big-money traders is split between 66% bullish and 8%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $254,409, and 8 are calls, for a total amount of $325,005.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $6.0 to $20.0 for Riot Platforms over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Riot Platforms's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Riot Platforms's significant trades, within a strike price range of $6.0 to $20.0, over the past month.

Riot Platforms 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Riot Platforms

Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment which generates revenue from the Bitcoin the company earns through its mining activities.

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

Current Position of Riot Platforms

• With a trading volume of 43,553,048, the price of RIOT is down by -0.91%, reaching $12.04.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 91 days from now.

Expert Opinions on Riot Platforms

4 market experts have recently issued ratings for this stock, with a consensus target price of $14.625.

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 Needham has revised its rating downward to Buy, adjusting the price target to $11. * An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $17. * An analyst from Compass Point has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $13. * An analyst from Macquarie has decided to maintain their Outperform rating on Riot Platforms, which currently sits at a price target of $17.

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 Riot Platforms, Benzinga Pro gives you real-time options trades alerts.