A whale with a lot of money to spend has taken a noticeably bearish stance on Rivian Automotive.
Looking at options history for Rivian Automotive (NASDAQ:RIVN) we detected 37 strange trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 30 are puts, for a total amount of $1,937,231 and 7, calls, for a total amount of $674,301.
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 $17.0 to $70.0 for Rivian Automotive over the last 3 months.
Volume & Open Interest Development
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 Rivian Automotive'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 Rivian Automotive's whale trades within a strike price range from $17.0 to $70.0 in the last 30 days.
Rivian Automotive Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIVN | CALL | SWEEP | BULLISH | 05/13/22 | $30.00 | $352.0K | 178 | 683 |
| RIVN | PUT | SWEEP | BULLISH | 05/20/22 | $30.00 | $255.7K | 9.5K | 253 |
| RIVN | PUT | SWEEP | BEARISH | 05/20/22 | $30.00 | $249.6K | 9.5K | 3.4K |
| RIVN | PUT | SWEEP | BULLISH | 05/20/22 | $35.00 | $187.6K | 8.4K | 68 |
| RIVN | PUT | SWEEP | NEUTRAL | 01/19/24 | $70.00 | $167.5K | 481 | 38 |
Where Is Rivian Automotive Standing Right Now?
- With a volume of 15,074,810, the price of RIVN is down -4.92% at $29.2.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 5 days.
What The Experts Say On Rivian Automotive:
- Exane BNP Paribas downgraded its action to Underperform with a price target of $35
- Piper Sandler has decided to maintain their Overweight rating on Rivian Automotive, which currently sits at a price target of $112.
- Barclays has decided to maintain their Equal-Weight rating on Rivian Automotive, which currently sits at a price target of $38.
- Deutsche Bank has decided to maintain their Buy rating on Rivian Automotive, which currently sits at a price target of $90.
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.
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