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 11 strange trades.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $167,150 and 6, calls, for a total amount of $229,745.
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 $80.0 to $125.0 for Rivian Automotive over the last 3 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 Rivian Automotive's options for a given strike price.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Rivian Automotive's whale activity within a strike price range from $80.0 to $125.0 in the last 30 days.
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 | BULLISH | 01/21/22 | $85.00 | $57.0K | 178 | 531 |
| RIVN | PUT | SWEEP | BULLISH | 03/18/22 | $120.00 | $38.3K | 266 | 12 |
| RIVN | PUT | TRADE | NEUTRAL | 01/20/23 | $100.00 | $37.7K | 1.9K | 12 |
| RIVN | CALL | TRADE | BULLISH | 01/14/22 | $90.00 | $37.5K | 661 | 1.4K |
| RIVN | CALL | SWEEP | BEARISH | 01/14/22 | $90.00 | $36.5K | 661 | 1.3K |
Where Is Rivian Automotive Standing Right Now?
- With a volume of 9,009,180, the price of RIVN is up 0.5% at $87.77.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 43 days.
What The Experts Say On Rivian Automotive:
- Barclays has decided to maintain their Equal-Weight rating on Rivian Automotive, which currently sits at a price target of $115.
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.