Looking At Redfin's Recent Whale Trades

Looking At Redfin's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Redfin RDFN.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with RDFN, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 13 options trades for Redfin.

This isn't normal.

The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.

Out of all of the options we uncovered, 12 are puts, for a total amount of $880,433, and there was 1 call, for a total amount of $31,100.

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 $15.0 to $30.0 for Redfin over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Redfin options trades today is 842.0 with a total volume of 13,481.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Redfin's big money trades within a strike price range of $15.0 to $30.0 over the last 30 days.

Redfin Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
RDFN PUT SWEEP BULLISH 02/18/22 $25.00 $226.8K 3.7K 2.6K
RDFN PUT SWEEP BEARISH 02/18/22 $25.00 $154.0K 3.7K 3.2K
RDFN PUT TRADE BULLISH 02/18/22 $25.00 $153.0K 3.7K 1.8K
RDFN PUT SWEEP BULLISH 02/18/22 $25.00 $65.2K 3.7K 3.4K
RDFN PUT SWEEP BEARISH 05/20/22 $20.00 $44.9K 251 154

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
RDFN PUT SWEEP BULLISH 02/18/22 $25.00 $226.8K 3.7K 2.6K
RDFN PUT SWEEP BEARISH 02/18/22 $25.00 $154.0K 3.7K 3.2K
RDFN PUT TRADE BULLISH 02/18/22 $25.00 $153.0K 3.7K 1.8K
RDFN PUT SWEEP BULLISH 02/18/22 $25.00 $65.2K 3.7K 3.4K
RDFN PUT SWEEP BEARISH 05/20/22 $20.00 $44.9K 251 154

Where Is Redfin Standing Right Now?

  • With a volume of 12,261,349, the price of RDFN is down -20.18% at $22.86.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 75 days.

What The Experts Say On Redfin:

  • Jefferies downgraded its action to Hold with a price target of $32
  • RBC Capital downgraded its action to Sector Perform with a price target of $23
  • Stifel has decided to maintain their Hold rating on Redfin, which currently sits at a price target of $36.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

Posted In: BZI-UOAOptionsMarkets