Spotlight on Riot Platforms: Analyzing the Surge in Options Activity

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Financial giants have made a conspicuous bearish move on Riot Platforms. Our analysis of options history for Riot Platforms RIOT revealed 10 unusual trades.

Delving into the details, we found 30% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $133,566, and 7 were calls, valued at $347,224.

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 $20.0 for Riot Platforms, spanning the last three months.

Volume & Open Interest Development

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 $20.0 in the last 30 days.

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Riot Platforms Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
RIOT CALL SWEEP BEARISH 12/20/24 $3.2 $3.15 $3.15 $9.00 $89.1K 386 364
RIOT CALL SWEEP BEARISH 01/17/25 $4.15 $4.05 $4.05 $8.00 $88.6K 399 220
RIOT PUT SWEEP BULLISH 05/24/24 $1.28 $1.15 $1.26 $11.00 $58.7K 559 487
RIOT PUT SWEEP BULLISH 06/14/24 $0.7 $0.68 $0.68 $9.50 $47.7K 347 1.1K
RIOT CALL SWEEP BULLISH 01/17/25 $1.34 $1.3 $1.34 $20.00 $44.4K 20.6K 1.1K

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.

Following our analysis of the options activities associated with Riot Platforms, we pivot to a closer look at the company's own performance.

Where Is Riot Platforms Standing Right Now?

  • Currently trading with a volume of 6,846,577, the RIOT's price is up by 2.4%, now at $10.02.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 84 days.

What Analysts Are Saying About Riot Platforms

In the last month, 5 experts released ratings on this stock with an average target price of $16.8.

  • Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Riot Platforms with a target price of $15.
  • An analyst from Needham downgraded its action to Buy with a price target of $17.
  • An analyst from HC Wainwright & Co. downgraded its action to Buy with a price target of $20.
  • An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $17.
  • Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Riot Platforms, targeting a price of $15.

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 Riot Platforms with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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