27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
A whale with a lot of money to spend has taken a noticeably bearish stance on Rivian Automotive.
Looking at options history for Rivian Automotive (NASDAQ:RIVN) we detected 41 strange trades.
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If we consider the specifics of each trade, it is accurate to state that 41.46% of the investors opened trades with bullish expectations and 58.54% with bearish.
From the overall spotted trades, 18 are puts, for a total amount of $905,539.00 and 23, calls, for a total amount of $991,301.00.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $95.0 to $260.0 for Rivian Automotive over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Rivian Automotive'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 Rivian Automotive's whale trades within a strike price range from $95.0 to $260.0 in the last 30 days.
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Rivian Automotive Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIVN | CALL | SWEEP | BEARISH | 12/10/21 | $120.00 | $119.7K | 2.9K | 5.2K |
| RIVN | PUT | SWEEP | BULLISH | 12/31/21 | $110.00 | $101.6K | 253 | 149 |
| RIVN | PUT | TRADE | BEARISH | 12/31/21 | $116.00 | $99.1K | 117 | 105 |
| RIVN | CALL | TRADE | NEUTRAL | 01/20/23 | $150.00 | $98.5K | 297 | 90 |
| RIVN | CALL | SWEEP | BULLISH | 12/10/21 | $120.00 | $85.5K | 2.9K | 4.0K |
Where Is Rivian Automotive Standing Right Now?
- With a volume of 7,157,228.00, the price of RIVN is up 3.21% at $119.91.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 73 days.
What The Experts Say On Rivian Automotive:
- Wedbush downgraded its action to Outperform with a price target of $130.0
- Goldman Sachs downgraded its action to Neutral with a price target of $94.0
- Morgan Stanley downgraded its action to Overweight with a price target of $147.0
- Mizuho downgraded its action to Buy with a price target of $145.0
- RBC Capital downgraded its action to Outperform with a price target of $165.0
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.