Investors with a lot of money to spend have taken a bullish stance on Rivian Automotive RIVN.
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 RIVN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 16 options trades for Rivian Automotive.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $28,200, and 15, calls, for a total amount of $2,627,675.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $20.0 for Rivian Automotive over the last 3 months.
Analyzing Volume & Open Interest
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.
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 $15.0 to $20.0 in the last 30 days.
Rivian Automotive 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIVN | CALL | TRADE | BULLISH | 03/01/24 | $16.00 | $1.0M | 63.5K | 8.4K |
| RIVN | CALL | SWEEP | BEARISH | 03/01/24 | $16.00 | $639.8K | 63.5K | 44.2K |
| RIVN | CALL | SWEEP | BEARISH | 02/02/24 | $16.00 | $124.1K | 6.6K | 19.0K |
| RIVN | CALL | SWEEP | BEARISH | 03/01/24 | $16.00 | $90.0K | 63.5K | 61.0K |
| RIVN | CALL | TRADE | BULLISH | 06/21/24 | $15.00 | $76.1K | 4.5K | 90 |
About Rivian Automotive
Rivian Automotive Inc designs, develops and manufactures category-defining electric vehicles and accessories. In the consumer market, the company launched the R1 platform with the first generation of consumer vehicles: the R1T, a two-row, five-passenger pickup truck, and the R1S, a three-row, seven-passenger sport utility vehicle (SUV).
Following our analysis of the options activities associated with Rivian Automotive, we pivot to a closer look at the company's own performance.
Current Position of Rivian Automotive
- With a volume of 13,142,053, the price of RIVN is up 0.78% at $15.41.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 23 days.
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 Rivian Automotive, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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