Looking At Riot Platforms's Recent Unusual Options Activity

Whales with a lot of money to spend have taken a noticeably bullish stance on Riot Platforms.

Looking at options history for Riot Platforms RIOT we detected 13 trades.

If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $272,740 and 8, calls, for a total amount of $369,305.

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 $35.0 for Riot Platforms over the last 3 months.

Volume & Open Interest Trends

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 Riot Platforms'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 Riot Platforms's whale activity within a strike price range from $10.0 to $35.0 in the last 30 days.

Riot Platforms 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
RIOT PUT TRADE BEARISH 01/17/25 $20.00 $107.5K 1.6K 105
RIOT CALL TRADE BULLISH 06/21/24 $10.00 $79.0K 2.4K 36
RIOT CALL SWEEP BULLISH 01/17/25 $20.00 $63.2K 11.1K 264
RIOT PUT SWEEP BEARISH 03/22/24 $12.00 $59.6K 1.5K 518
RIOT CALL SWEEP BULLISH 03/15/24 $12.00 $48.8K 19.9K 1.3K

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.

Having examined the options trading patterns of Riot Platforms, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Riot Platforms Standing Right Now?

  • Trading volume stands at 10,672,988, with RIOT's price down by -0.66%, positioned at $12.04.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 62 days.

Expert Opinions on Riot Platforms

5 market experts have recently issued ratings for this stock, with a consensus target price of $19.4.

  • An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Riot Platforms, which currently sits at a price target of $20.
  • In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $19.
  • Maintaining their stance, an analyst from HC Wainwright & Co. continues to hold a Buy rating for Riot Platforms, targeting a price of $20.
  • An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $20.
  • An analyst from Needham has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $18.

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.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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