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 trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 18 uncommon options trades for Rivian Automotive.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $125,079, and 16 are calls, for a total amount of $1,119,069.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $20.0 for Rivian Automotive over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Rivian Automotive options trades today is 13338.18 with a total volume of 103,880.00.
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 $5.0 to $20.0 over the last 30 days.
Rivian Automotive 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIVN | CALL | SWEEP | BULLISH | 04/12/24 | $0.41 | $0.34 | $0.42 | $12.00 | $392.3K | 1.9K | 5.4K |
| RIVN | PUT | SWEEP | BULLISH | 04/26/24 | $0.89 | $0.79 | $0.79 | $11.00 | $94.8K | 10.5K | 1.2K |
| RIVN | CALL | SWEEP | BEARISH | 01/16/26 | $3.05 | $2.93 | $2.93 | $20.00 | $94.0K | 12.5K | 526 |
| RIVN | CALL | SWEEP | BEARISH | 01/17/25 | $2.96 | $2.92 | $2.92 | $12.50 | $81.1K | 10.8K | 337 |
| RIVN | CALL | SWEEP | BULLISH | 04/05/24 | $0.88 | $0.83 | $0.89 | $10.50 | $66.7K | 10.8K | 2.5K |
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).
After a thorough review of the options trading surrounding Rivian Automotive, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Rivian Automotive
- With a volume of 20,434,145, the price of RIVN is down -0.55% at $10.93.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 40 days.
What Analysts Are Saying About Rivian Automotive
5 market experts have recently issued ratings for this stock, with a consensus target price of $14.6.
- In a cautious move, an analyst from Mizuho downgraded its rating to Neutral, setting a price target of $12.
- An analyst from RBC Capital has decided to maintain their Sector Perform rating on Rivian Automotive, which currently sits at a price target of $15.
- Showing optimism, an analyst from Piper Sandler upgrades its rating to Overweight with a revised price target of $21.
- An analyst from Jefferies downgraded its action to Buy with a price target of $16.
- An analyst from UBS has decided to maintain their Sell rating on Rivian Automotive, which currently sits at a price target of $9.
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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