Riot Platforms Unusual Options Activity For April 04

Someone with a lot of money to spend has taken a bullish stance on Riot Platforms RIOT.

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

Today, Benzinga's options scanner spotted 14 options trades for Riot Platforms.

This isn't normal.

The overall sentiment of these big-money traders is split between 71% bullish and 28%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $35,300, and 13, calls, for a total amount of $863,109..

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 $10.0 to $12.0 for Riot Platforms over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Riot Platforms options trades today is 6856.0 with a total volume of 37,095.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Riot Platforms's big money trades within a strike price range of $10.0 to $12.0 over the last 30 days.

Riot Platforms Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Riot Platforms Standing Right Now?

• With a volume of 5,958,067, the price of RIOT is down -3.57% at $9.32.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 35 days.

What The Experts Say On Riot Platforms:

• Northland Capital Markets has decided to maintain their Outperform rating on Riot Platforms, which currently sits at a price target of $9.
• Cantor Fitzgerald downgraded its action to Overweight with a price target of $10
• B. Riley Securities has decided to maintain their Buy rating on Riot Platforms, which currently sits at a price target of $8.
• Needham downgraded its action to Buy with a price target of $9

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.