Check Out What Whales Are Doing With RKT

Investors with a lot of money to spend have taken a bullish stance on Rocket Companies (NYSE:RKT).

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 RKT, 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 49 uncommon options trades for Rocket Companies.

This isn't normal.

The overall sentiment of these big-money traders is split between 48% bullish and 42%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $400,412, and 43 are calls, for a total amount of $2,538,928.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $9.2 to $26.2 for Rocket Companies during the past quarter.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Rocket Companies's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Rocket Companies's significant trades, within a strike price range of $9.2 to $26.2, over the past month.

Rocket Companies Call and Put Volume: 30-Day Overview

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 will also be the largest mortgage servicer in the US following its acquisition of the Mr. Cooper Group.

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

Where Is Rocket Companies Standing Right Now?

• With a volume of 26,191,892, the price of RKT is up 1.07% at $16.11.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 118 days.

What Analysts Are Saying About Rocket Companies

5 market experts have recently issued ratings for this stock, with a consensus target price of $20.6.

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. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Neutral rating for Rocket Companies, targeting a price of $22. * An analyst from Barclays has decided to maintain their Equal-Weight rating on Rocket Companies, which currently sits at a price target of $19. * Reflecting concerns, an analyst from BTIG lowers its rating to Buy with a new price target of $25. * An analyst from UBS persists with their Neutral rating on Rocket Companies, maintaining a target price of $17. * An analyst from RBC Capital has decided to maintain their Sector Perform rating on Rocket Companies, which currently sits at a price target of $20.

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 Rocket Companies with Benzinga Pro for real-time alerts.