Investors with a lot of money to spend have taken a bullish stance on Sunrun RUN.
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 RUN, 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 8 uncommon options trades for Sunrun.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $68,750, and 6 are calls, for a total amount of $278,447.
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 $10.0 to $22.5 for Sunrun over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Sunrun stands at 9655.0, with a total volume reaching 8,413.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Sunrun, situated within the strike price corridor from $10.0 to $22.5, throughout the last 30 days.
Sunrun 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RUN | CALL | SWEEP | BEARISH | 01/17/25 | $1.63 | $1.6 | $1.6 | $22.50 | $80.0K | 28.4K | 555 |
| RUN | CALL | SWEEP | BULLISH | 06/21/24 | $0.93 | $0.9 | $0.93 | $14.00 | $65.0K | 17.0K | 1.6K |
| RUN | CALL | SWEEP | BEARISH | 06/21/24 | $0.66 | $0.63 | $0.63 | $15.00 | $47.3K | 15.5K | 1.1K |
| RUN | PUT | TRADE | BULLISH | 06/21/24 | $2.48 | $2.45 | $2.45 | $15.00 | $36.7K | 2.9K | 160 |
| RUN | PUT | TRADE | BULLISH | 01/16/26 | $3.35 | $3.15 | $3.2 | $10.00 | $32.0K | 5.2K | 101 |
About Sunrun
Sunrun is engaged in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The company acquires customers directly and through relationships with various solar and strategic partners. The solar systems are constructed either by Sunrun or by Sunrun's partners and are owned by the company. Sunrun's customers typically enter into 20- to 25-year agreements to utilize its solar energy system. The company also sells solar energy systems and products, such as panels and racking, and solar leads generated to customers.
Following our analysis of the options activities associated with Sunrun, we pivot to a closer look at the company's own performance.
Where Is Sunrun Standing Right Now?
- With a trading volume of 10,288,718, the price of RUN is up by 11.47%, reaching $13.37.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 68 days from now.
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 Sunrun, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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