Deep-pocketed investors have adopted a bearish approach towards Rivian Automotive RIVN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in RIVN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Rivian Automotive. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 6 are puts, totaling $262,620, and 10 are calls, amounting to $612,095.
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 $10.0 to $22.5 for Rivian Automotive over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Rivian Automotive options trades today is 3348.09 with a total volume of 21,883.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Rivian Automotive's big money trades within a strike price range of $10.0 to $22.5 over the last 30 days.
Rivian Automotive Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIVN | CALL | SWEEP | BEARISH | 07/19/24 | $12.50 | $118.3K | 0 | 283 |
| RIVN | CALL | SWEEP | BEARISH | 05/17/24 | $12.50 | $114.0K | 27 | 887 |
| RIVN | PUT | TRADE | BULLISH | 01/16/26 | $15.00 | $75.0K | 21.6K | 150 |
| RIVN | CALL | TRADE | BULLISH | 01/16/26 | $10.00 | $72.5K | 1.2K | 88 |
| RIVN | CALL | SWEEP | BEARISH | 05/17/24 | $12.50 | $68.6K | 27 | 519 |
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).
In light of the recent options history for Rivian Automotive, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Rivian Automotive
- With a volume of 10,930,486, the price of RIVN is up 0.97% at $15.65.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 14 days.
Expert Opinions on Rivian Automotive
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $20.75.
- An analyst from Goldman Sachs persists with their Neutral rating on Rivian Automotive, maintaining a target price of $17.
- Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Rivian Automotive, targeting a price of $22.
- An analyst from Deutsche Bank has revised its rating downward to Hold, adjusting the price target to $19.
- An analyst from Barclays persists with their Overweight rating on Rivian Automotive, maintaining a target price of $25.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Rivian Automotive options trades with real-time alerts from Benzinga Pro.
© 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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