Financial giants have made a conspicuous bearish move on Root. Our analysis of options history for Root ROOT revealed 15 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $163,100, and 12 were calls, valued at $535,234.
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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 $40.0 to $95.0 for Root over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Root options trades today is 132.86 with a total volume of 392.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Root's big money trades within a strike price range of $40.0 to $95.0 over the last 30 days.
Root Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROOT | CALL | SWEEP | BULLISH | 06/21/24 | $34.8 | $33.5 | $34.79 | $40.00 | $111.3K | 57 | 50 |
| ROOT | PUT | TRADE | BEARISH | 09/20/24 | $42.2 | $41.6 | $42.2 | $95.00 | $84.4K | 0 | 21 |
| ROOT | CALL | TRADE | NEUTRAL | 06/21/24 | $14.6 | $13.0 | $13.8 | $80.00 | $69.0K | 7 | 100 |
| ROOT | CALL | SWEEP | BULLISH | 04/19/24 | $14.5 | $14.4 | $14.5 | $60.00 | $47.8K | 617 | 66 |
| ROOT | CALL | TRADE | NEUTRAL | 05/17/24 | $16.1 | $14.1 | $15.29 | $70.00 | $45.8K | 67 | 40 |
About Root
Root Inc develops and launches a direct-to-consumer personal automobile insurance and mobile technology company. The company is a direct-to-consumer personal auto insurance, renters insurance and mobile technology company. It generates revenue from the sale of auto insurance policies within the United States.
Having examined the options trading patterns of Root, 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 Root
- Trading volume stands at 597,592, with ROOT's price up by 4.46%, positioned at $71.15.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 27 days.
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 Root, Benzinga Pro gives you real-time options trades alerts.
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