Investors with a lot of money to spend have taken a bearish stance on Riot Platforms (NASDAQ: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 12 options trades for Riot Platforms.

This isn't normal.

The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $25,298, and 11, calls, for a total amount of $554,620.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $15.0 for Riot Platforms over the recent three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Riot Platforms options trades today is 6854.0 with a total volume of 2,659.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Riot Platforms's big money trades within a strike price range of $5.0 to $15.0 over the last 30 days.

Riot Platforms 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

Current Position of Riot Platforms

• Currently trading with a volume of 11,225,269, the RIOT's price is down by -7.05%, now at $9.69.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 47 days.

Professional Analyst Ratings for Riot Platforms

In the last month, 4 experts released ratings on this stock with an average target price of $16.25.

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.