This Is What Whales Are Betting On RH

This Is What Whales Are Betting On RH

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

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 RH, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for RH.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $210,060, and 8 are calls, for a total amount of $449,850.

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 $220.0 to $350.0 for RH over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for RH's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of RH's whale trades within a strike price range from $220.0 to $350.0 in the last 30 days.

RH 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
RH CALL TRADE BULLISH 01/20/23 $350.00 $178.5K 417 0
RH PUT TRADE BEARISH 01/20/23 $250.00 $68.0K 376 28
RH PUT TRADE BEARISH 01/20/23 $230.00 $64.3K 141 29
RH CALL TRADE NEUTRAL 08/12/22 $275.00 $53.0K 9 0
RH CALL TRADE NEUTRAL 08/19/22 $265.00 $48.3K 18 25

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
RH CALL TRADE BULLISH 01/20/23 $350.00 $178.5K 417 0
RH PUT TRADE BEARISH 01/20/23 $250.00 $68.0K 376 28
RH PUT TRADE BEARISH 01/20/23 $230.00 $64.3K 141 29
RH CALL TRADE NEUTRAL 08/12/22 $275.00 $53.0K 9 0
RH CALL TRADE NEUTRAL 08/19/22 $265.00 $48.3K 18 25

Where Is RH Standing Right Now?

  • With a volume of 334,029, the price of RH is up 3.17% at $279.8.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 40 days.

What The Experts Say On RH:

  • Wells Fargo has decided to maintain their Overweight rating on RH, which currently sits at a price target of $300.
  • Wedbush has decided to maintain their Outperform rating on RH, which currently sits at a price target of $274.
  • Jefferies has decided to maintain their Buy rating on RH, which currently sits at a price target of $400.
  • Telsey Advisory Group has decided to maintain their Outperform rating on RH, which currently sits at a price target of $285.
  • Goldman Sachs has decided to maintain their Neutral rating on RH, which currently sits at a price target of $224.

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

Posted In: BZI-UOAOptionsMarkets