Unpacking the Latest Options Trading Trends in United Rentals

Investors with a lot of money to spend have taken a bearish stance on United Rentals URI.

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 URI, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 9 options trades for United Rentals.

This isn't normal.

The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $33,858, and 8, calls, for a total amount of $611,213.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $350.0 and $715.0 for United Rentals, spanning the last three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of United Rentals stands at 118.11, with a total volume reaching 76.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United Rentals, situated within the strike price corridor from $350.0 to $715.0, throughout the last 30 days.

United Rentals Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About United Rentals

United Rentals is the world's largest equipment rental company. It principally operates in the United States and Canada, where it commands approximately 15% share in a highly fragmented market. It serves three end markets: general industrial, commercial construction, and residential construction. Like its peers, United Rentals historically has provided its customers with equipment that was intermittently used, such as aerial equipment and portable generators. As the company has grown organically and through hundreds of acquisitions since it went public in 1997, its catalog (fleet size of $21 billion) now includes a range of specialty equipment and other items that can be rented for indefinitely long periods.

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

Present Market Standing of United Rentals

• Currently trading with a volume of 205,613, the URI's price is down by 0.0%, now at $714.27.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 30 days.

Professional Analyst Ratings for United Rentals

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $755.5.

• An analyst from Goldman Sachs has decided to maintain their Buy rating on United Rentals, which currently sits at a price target of $718.
• Reflecting concerns, an analyst from Truist Securities lowers its rating to Buy with a new price target of $793.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for United Rentals with Benzinga Pro for real-time alerts.