What the Options Market Tells Us About Sunrun

Investors with a lot of money to spend have taken a bullish stance on Sunrun RUN.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, 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 these investors just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Sunrun.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $495,214, and 2 are calls, for a total amount of $78,050.

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Projected Price Targets

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 $15.0 for Sunrun over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Sunrun stands at 4399.6, with a total volume reaching 7,145.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Sunrun, situated within the strike price corridor from $10.0 to $15.0, throughout the last 30 days.

Sunrun Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Sunrun

Sunrun is engaged in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The company acquires customers directly and through relationships with various solar and strategic partners. The solar systems are constructed either by Sunrun or by Sunrun's partners and are owned by the company. Sunrun's customers typically enter into 20- to 25-year agreements to utilize its solar energy system. The company also sells solar energy systems and products, such as panels and racking, and solar leads generated to customers.

Sunrun's Current Market Status

• Trading volume stands at 7,832,634, with RUN's price up by 1.46%, positioned at $11.84.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 93 days.

What The Experts Say On Sunrun

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $20.2.

• An analyst from Roth MKM has decided to maintain their Buy rating on Sunrun, which currently sits at a price target of $35.
• Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Sunrun with a target price of $17.
• An analyst from JP Morgan persists with their Overweight rating on Sunrun, maintaining a target price of $16.
• Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Sunrun with a target price of $21.
• An analyst from Northland Capital Markets has revised its rating downward to Market Perform, adjusting the price target to $12.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Sunrun with Benzinga Pro for real-time alerts.