A whale with a lot of money to spend has taken a noticeably bullish stance on Rivian Automotive.
Looking at options history for Rivian Automotive (NASDAQ:RIVN) we detected 15 strange trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $951,191 and 4, calls, for a total amount of $1,325,805.
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 $17.5 to $55.0 for Rivian Automotive over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Rivian Automotive options trades today is 1179.69 with a total volume of 16,117.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Rivian Automotive's big money trades within a strike price range of $17.5 to $55.0 over 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 | TRADE | BEARISH | 09/16/22 | $40.00 | $1.2M | 650 | 3.0K |
| RIVN | PUT | SWEEP | BULLISH | 09/16/22 | $35.00 | $225.0K | 2.0K | 233 |
| RIVN | PUT | SWEEP | BEARISH | 05/20/22 | $32.00 | $185.2K | 516 | 493 |
| RIVN | PUT | SWEEP | BULLISH | 05/13/22 | $25.00 | $185.0K | 1.7K | 105 |
| RIVN | PUT | TRADE | BEARISH | 05/20/22 | $40.00 | $69.3K | 3.3K | 78 |
Where Is Rivian Automotive Standing Right Now?
- With a volume of 4,161,070, the price of RIVN is down -3.22% at $30.96.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 7 days.
What The Experts Say On Rivian Automotive:
- 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.
- 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.
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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