Looking At Rivian Automotive's Recent Unusual Options Activity

Looking At Rivian Automotive's Recent Unusual Options Activity

A whale with a lot of money to spend has taken a noticeably bearish stance on Rivian Automotive.

Looking at options history for Rivian Automotive RIVN we detected 12 strange trades.

If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $80,043 and 10, calls, for a total amount of $715,568.

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 $30.0 to $40.0 for Rivian Automotive over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Rivian Automotive options trades today is 8462.33 with a total volume of 10,790.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Rivian Automotive's big money trades within a strike price range of $30.0 to $40.0 over the last 30 days.

Rivian Automotive 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
RIVN CALL SWEEP BEARISH 03/17/23 $40.00 $236.1K 21.8K 1.2K
RIVN CALL TRADE BULLISH 12/30/22 $30.00 $82.5K 160 657
RIVN CALL SWEEP BEARISH 03/17/23 $40.00 $59.9K 21.8K 1.5K
RIVN CALL TRADE BULLISH 12/09/22 $31.00 $59.5K 2.3K 507
RIVN CALL SWEEP BEARISH 12/09/22 $31.00 $58.5K 2.3K 1.5K

Where Is Rivian Automotive Standing Right Now?

  • With a volume of 3,391,477, the price of RIVN is down -3.13% at $30.5.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 97 days.

What The Experts Say On Rivian Automotive:

  • Mizuho has decided to maintain their Buy rating on Rivian Automotive, which currently sits at a price target of $58.
  • DA Davidson has decided to maintain their Underperform rating on Rivian Automotive, which currently sits at a price target of $23.
  • Wedbush has decided to maintain their Outperform rating on Rivian Automotive, which currently sits at a price target of $37.
  • Evercore ISI Group downgraded its action to In-Line with a price target of $35
  • Piper Sandler has decided to maintain their Overweight rating on Rivian Automotive, which currently sits at a price target of $63.

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

Posted In: BZI-UOAOptionsMarkets