Unpacking the Latest Options Trading Trends in Rocket Companies

Deep-pocketed investors have adopted a bearish approach towards Rocket Companies RKT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in RKT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Rocket Companies. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 41% bearish. Among these notable options, 2 are puts, totaling $79,400, and 10 are calls, amounting to $451,258.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $13.0 and $20.0 for Rocket Companies, spanning the last three months.

Volume & Open Interest Trends

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 Rocket Companies'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 Rocket Companies's whale activity within a strike price range from $13.0 to $20.0 in the last 30 days.

Rocket Companies Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Rocket Companies

Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company's mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company's lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket's origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the U.S. as well as the servicer for more than 2 million loans.

Present Market Standing of Rocket Companies

• With a volume of 15,979,533, the price of RKT is down -15.03% at $13.4.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 52 days.

What Analysts Are Saying About Rocket Companies

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $12.5.

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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. * In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $13. * An analyst from Keefe, Bruyette & Woods has decided to maintain their Underperform rating on Rocket Companies, which currently sits at a price target of $12.

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 Rocket Companies options trades with real-time alerts from Benzinga Pro.