High-rolling investors have positioned themselves bearish on Riot Platforms RIOT, 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 RIOT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for Riot Platforms. This is not a typical pattern.
The sentiment among these major traders is split, with 30% bullish and 69% bearish. Among all the options we identified, there was one put, amounting to $28,440, and 12 calls, totaling $1,136,515.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $4.5 to $13.0 for Riot Platforms during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Riot Platforms'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 Riot Platforms's whale trades within a strike price range from $4.5 to $13.0 in the last 30 days.
Riot Platforms Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | TRADE | BEARISH | 01/19/24 | $9.00 | $249.2K | 2.0K | 563 |
| RIOT | CALL | SWEEP | BULLISH | 01/19/24 | $12.00 | $245.6K | 11.0K | 2.1K |
| RIOT | CALL | TRADE | BEARISH | 01/19/24 | $12.00 | $165.9K | 11.0K | 566 |
| RIOT | CALL | TRADE | BULLISH | 01/17/25 | $10.00 | $126.0K | 6.7K | 320 |
| RIOT | CALL | TRADE | BEARISH | 01/19/24 | $9.00 | $93.0K | 2.0K | 2.7K |
About Riot Platforms
Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. Distributed blockchain technology is a decentralized and encrypted ledger that is designed to offer a secure, efficient, verifiable, and permanent way of storing records and other information without the need for intermediaries. It serves as a medium of exchange, store of value, or unit of account. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment.
In light of the recent options history for Riot Platforms, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Riot Platforms's Current Market Status
- Trading volume stands at 10,762,291, with RIOT's price up by 1.51%, positioned at $12.74.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 90 days.
What The Experts Say On Riot Platforms
1 market experts have recently issued ratings for this stock, with a consensus target price of $19.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $19.
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.
© 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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