Smart Money Is Betting Big In RGTI Options

Financial giants have made a conspicuous bullish move on Rigetti Computing. Our analysis of options history for Rigetti Computing RGTI revealed 13 unusual trades.

Delving into the details, we found 53% of traders were bullish, while 46% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $983,251, and 5 were calls, valued at $195,294.

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Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $22.0 for Rigetti Computing over the recent three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Rigetti Computing's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Rigetti Computing's significant trades, within a strike price range of $10.0 to $22.0, over the past month.

Rigetti Computing 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Rigetti Computing

Rigetti Computing Inc is engaged in the business of full-stack quantum computing. The company offers full-stack quantum computing platform as a cloud service to a wide range of end-users, directly through its Rigetti QCS platform, and also through cloud service providers. Its proprietary quantum-classical infrastructure provides ultra-low latency integration with public and private clouds for high-performance practical quantum computing. The company has developed the industry's first multi-chip quantum processor for scalable quantum computing systems. Geographically, the company derives the majority of its revenue from the United States.

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

Present Market Standing of Rigetti Computing

• Trading volume stands at 135,100,451, with RGTI's price up by 27.69%, positioned at $13.99.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 77 days.

Expert Opinions on Rigetti Computing

In the last month, 2 experts released ratings on this stock with an average target price of $14.5.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $14. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Rigetti Computing, targeting a price of $15.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Rigetti Computing options trades with real-time alerts from Benzinga Pro.