Investors with a lot of money to spend have taken a bearish stance on United Rentals URI.
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 URI, 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 22 uncommon options trades for United Rentals.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $270,140, and 16 are calls, for a total amount of $912,139.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $270.0 and $740.0 for United Rentals, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for United Rentals's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of United Rentals's whale activity within a strike price range from $270.0 to $740.0 in the last 30 days.
United Rentals Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| URI | PUT | TRADE | BULLISH | 01/26/24 | $540.00 | $117.0K | 0 | 0 |
| URI | CALL | TRADE | BEARISH | 01/19/24 | $520.00 | $117.0K | 703 | 1 |
| URI | CALL | SWEEP | NEUTRAL | 01/19/24 | $500.00 | $110.3K | 506 | 6 |
| URI | CALL | TRADE | BULLISH | 01/19/24 | $480.00 | $91.5K | 546 | 0 |
| URI | CALL | SWEEP | BULLISH | 12/22/23 | $560.00 | $78.6K | 23 | 231 |
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.
Following our analysis of the options activities associated with United Rentals, we pivot to a closer look at the company's own performance.
United Rentals's Current Market Status
- Trading volume stands at 376,704, with URI's price up by 1.21%, positioned at $536.6.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 41 days.
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 United Rentals with Benzinga Pro for real-time alerts.
© 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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