Investors with a lot of money to spend have taken a bullish 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 60 options trades for Riot Platforms.

This isn't normal.

The overall sentiment of these big-money traders is split between 48% bullish and 40%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $3,216,000, and 59, calls, for a total amount of $4,385,058.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $32.0 for Riot Platforms over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Riot Platforms stands at 10534.79, with a total volume reaching 261,071.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Riot Platforms, situated within the strike price corridor from $10.0 to $32.0, throughout the last 30 days.

Riot Platforms Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Riot Platforms

After a thorough review of the options trading surrounding Riot Platforms, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Riot Platforms

• Currently trading with a volume of 36,860,782, the RIOT's price is up by 8.55%, now at $18.53.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 35 days.

What The Experts Say On Riot Platforms

1 market experts have recently issued ratings for this stock, with a consensus target price of $26.0.

Unusual Options Activity Detected: Smart Money on the Move

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 Riot Platforms, Benzinga Pro gives you real-time options trades alerts.