Sunrun Unusual Options Activity

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

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 RUN, 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 10 uncommon options trades for Sunrun.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $1,814,610, and 5 are calls, for a total amount of $216,023.

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 $9.0 to $15.0 for Sunrun over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Sunrun options trades today is 2857.88 with a total volume of 10,082.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Sunrun's big money trades within a strike price range of $9.0 to $15.0 over the last 30 days.

Sunrun Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
RUN PUT TRADE BEARISH 06/21/24 $15.00 $1.2M 4.5K 0
RUN PUT TRADE BEARISH 05/17/24 $9.00 $487.5K 2.9K 10
RUN PUT TRADE NEUTRAL 01/19/24 $10.00 $67.1K 5.8K 0
RUN CALL SWEEP BEARISH 11/03/23 $9.50 $62.4K 2.6K 1.1K
RUN CALL SWEEP BEARISH 11/03/23 $9.50 $49.3K 2.6K 2.3K

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Where Is Sunrun Standing Right Now?

  • With a volume of 11,048,699, the price of RUN is up 7.06% at $10.16.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 111 days.

What The Experts Say On Sunrun:

  • Morgan Stanley has decided to maintain their Overweight rating on Sunrun, which currently sits at a price target of $26.
  • Keybanc has decided to maintain their Overweight rating on Sunrun, which currently sits at a price target of $21.
  • Exane BNP Paribas downgraded its action to Outperform with a price target of $20
  • Piper Sandler has decided to maintain their Neutral rating on Sunrun, which currently sits at a price target of $15.
  • JP Morgan has decided to maintain their Overweight rating on Sunrun, which currently sits at a price target of $21.

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

Market News and Data brought to you by Benzinga APIs
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