A Closer Look at RH's Options Market Dynamics

High-rolling investors have positioned themselves bullish on RH RH, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in RH often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for RH. This is not a typical pattern.

The sentiment among these major traders is split, with 37% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $120,000, and 7 calls, totaling $341,181.

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 $200.0 to $520.0 for RH over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of RH stands at 99.71, with a total volume reaching 38.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in RH, situated within the strike price corridor from $200.0 to $520.0, throughout the last 30 days.

RH Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About RH

RH is a luxury retailer operating in the $134 billion domestic furniture and home furnishing industry. The firm offers merchandise across many categories including furniture, lighting, textiles, bath, decor, children, and is growing the presence of its hospitality business (with 17 restaurant locations). RH innovates, curates, and integrates products, categories, services, and businesses across channels and brand extensions (RH Modern and Waterworks, for example). RH is fully integrated across channels, and is positioned to broaden its total addressable market over the next decade by expanding abroad, and with its World of RH digital platform (highlighting offerings outside of home furnishings), along with future offerings in color, bespoke furniture, architeture, media, and more.

Where Is RH Standing Right Now?

• With a volume of 243,962, the price of RH is up 5.39% at $258.53.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 56 days.

What The Experts Say On RH

In the last month, 5 experts released ratings on this stock with an average target price of $284.2.

• An analyst from Loop Capital persists with their Hold rating on RH, maintaining a target price of $230.
• Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Market Perform rating for RH, targeting a price of $290.
• An analyst from Goldman Sachs has decided to maintain their Sell rating on RH, which currently sits at a price target of $226.
• Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on RH with a target price of $325.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for RH, targeting a price of $350.

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 RH with Benzinga Pro for real-time alerts.