This Is What Whales Are Betting On Riot Platforms

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

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 RIOT, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Riot Platforms.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $34,010, and 7, calls, for a total amount of $475,220.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $6.0 to $11.0 for Riot Platforms over the recent three months.

Volume & Open Interest Development

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 Riot Platforms'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 Riot Platforms's whale activity within a strike price range from $6.0 to $11.0 in the last 30 days.

Riot Platforms Option Activity Analysis: Last 30 Days

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.

Where Is Riot Platforms Standing Right Now?

• Trading volume stands at 8,735,026, with RIOT's price up by 6.38%, positioned at $9.51.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 62 days.

What Analysts Are Saying About Riot Platforms

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $18.9.

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 Roth MKM downgraded its action to Buy with a price target of $20. * An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $17. * In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $23. * An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Riot Platforms, which currently sits at a price target of $21. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Riot Platforms, targeting a price of $13.

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 Riot Platforms options trades with real-time alerts from Benzinga Pro.