High-rolling investors have positioned themselves bearish on United Rentals URI, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in URI often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 18 options trades for United Rentals. This is not a typical pattern.
The sentiment among these major traders is split, with 22% bullish and 77% bearish. Among all the options we identified, there was one put, amounting to $43,100, and 17 calls, totaling $1,332,604.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $400.0 to $720.0 for United Rentals over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of United Rentals stands at 83.3, with a total volume reaching 3,919.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United Rentals, situated within the strike price corridor from $400.0 to $720.0, throughout the last 30 days.
United Rentals 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| URI | CALL | SWEEP | BEARISH | 12/15/23 | $460.00 | $227.3K | 204 | 580 |
| URI | CALL | SWEEP | BEARISH | 12/15/23 | $460.00 | $177.8K | 204 | 811 |
| URI | CALL | SWEEP | BULLISH | 12/01/23 | $460.00 | $106.0K | 17 | 387 |
| URI | CALL | SWEEP | BULLISH | 12/01/23 | $460.00 | $99.9K | 17 | 279 |
| URI | CALL | SWEEP | NEUTRAL | 12/01/23 | $460.00 | $95.2K | 17 | 89 |
About United Rentals
United Rentals is the world's largest equipment rental company. It principally operates in the United States and Canada, where it commands approximately 17% share in a highly fragmented market. It serves three end markets: general industrial, commercial construction, and residential construction. Like its peers, United Rentals historically has provided its customers with equipment that was intermittently used, such as aerial equipment and portable generators. As the company has grown organically and through hundreds of acquisitions since it went public in 1997, its catalog (fleet size of $21 billion) now includes a range of specialty equipment and other items that can be rented for indefinitely long periods.
Having examined the options trading patterns of United Rentals, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is United Rentals Standing Right Now?
- With a trading volume of 308,906, the price of URI is up by 1.03%, reaching $461.24.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 72 days from now.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest United Rentals options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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