Unpacking the Latest Options Trading Trends in Riot Platforms

Investors with a lot of money to spend have taken a bullish stance on Riot Platforms 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 11 options trades for Riot Platforms.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $97,908, and 10, calls, for a total amount of $729,281.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $35.0 for Riot Platforms, spanning the last three 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 $8.0 to $35.0 in the last 30 days.

Riot Platforms 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

Present Market Standing of Riot Platforms

• With a trading volume of 14,829,820, the price of RIOT is up by 0.24%, reaching $12.47.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 43 days from now.

Expert Opinions on Riot Platforms

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $18.6.

• An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $20.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $18.
• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $20.
• Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $15.
• Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Riot Platforms with a target price of $20.

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 Riot Platforms options trades with real-time alerts from Benzinga Pro.