Investors with a lot of money to spend have taken a bearish stance on Riot Platforms (NASDAQ:RIOT).
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 RIOT, 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 9 uncommon options trades for Riot Platforms.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $108,053, and 7 are calls, for a total amount of $247,558.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $11.5 to $25.0 for Riot Platforms during the past quarter.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Riot Platforms's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Riot Platforms's substantial trades, within a strike price spectrum from $11.5 to $25.0 over the preceding 30 days.
Riot Platforms 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIOT | PUT | SWEEP | BULLISH | 12/06/24 | $1.13 | $1.12 | $1.13 | $12.00 | $71.3K | 899 | 810 |
| RIOT | CALL | SWEEP | BEARISH | 12/20/24 | $0.6 | $0.59 | $0.59 | $15.00 | $48.3K | 14.4K | 517 |
| RIOT | CALL | TRADE | BULLISH | 03/21/25 | $2.1 | $2.02 | $2.08 | $15.00 | $41.6K | 38.4K | 473 |
| RIOT | CALL | TRADE | BULLISH | 01/16/26 | $3.2 | $3.1 | $3.2 | $22.00 | $38.4K | 2.7K | 123 |
| RIOT | PUT | TRADE | BEARISH | 01/03/25 | $1.47 | $1.47 | $1.47 | $11.50 | $36.7K | 8 | 251 |
About Riot Platforms
Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment which generates revenue from the Bitcoin the company earns through its mining activities.
Having examined the options trading patterns of Riot Platforms, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Riot Platforms
- Trading volume stands at 16,034,233, with RIOT's price down by -5.14%, positioned at $11.44.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 86 days.
What Analysts Are Saying About Riot Platforms
In the last month, 4 experts released ratings on this stock with an average target price of $14.625.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Needham downgraded its action to Buy with a price target of $11. * Consistent in their evaluation, an analyst from Compass Point keeps a Buy rating on Riot Platforms with a target price of $13. * An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $17. * An analyst from Macquarie has decided to maintain their Outperform rating on Riot Platforms, which currently sits at a price target of $17.
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.
