27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Investors with a lot of money to spend have taken a bearish stance on Riot Platforms (NASDAQ: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 12% bullish and 87%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $67,000, and 7, calls, for a total amount of $440,674.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $8.0 to $11.0 for Riot Platforms during the past quarter.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Riot Platforms's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Riot Platforms's substantial trades, within a strike price spectrum from $8.0 to $11.0 over the preceding 30 days.
Riot Platforms Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | SWEEP | BEARISH | 01/17/25 | $3.7 | $3.6 | $3.6 | $9.00 | $108.0K | 1.9K | 370 |
| RIOT | CALL | SWEEP | BEARISH | 12/20/24 | $3.7 | $3.65 | $3.65 | $8.00 | $102.2K | 186 | 1 |
| RIOT | CALL | SWEEP | BEARISH | 09/20/24 | $2.58 | $2.55 | $2.55 | $9.00 | $74.9K | 3.8K | 310 |
| RIOT | PUT | TRADE | BEARISH | 06/21/24 | $0.67 | $0.65 | $0.67 | $9.00 | $67.0K | 3.2K | 1 |
| RIOT | CALL | SWEEP | BEARISH | 09/20/24 | $3.3 | $3.25 | $3.25 | $8.00 | $53.6K | 5.1K | 167 |
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.
In light of the recent options history for Riot Platforms, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Riot Platforms
- With a trading volume of 6,731,649, the price of RIOT is down by -4.23%, reaching $9.85.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 89 days from now.
What The Experts Say On Riot Platforms
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $16.8.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $17.
- Consistent in their evaluation, an analyst from B. Riley Securities keeps a Buy rating on Riot Platforms with a target price of $15.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Riot Platforms with a target price of $15.
- An analyst from HC Wainwright & Co. downgraded its action to Buy with a price target of $20.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $17.
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 want to stay updated on the latest options trades for Riot Platforms, Benzinga Pro gives you real-time options trades alerts.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
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