Investors with significant funds have taken a bearish position in Rivian Automotive (NASDAQ:RIVN), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in RIVN usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 10 options transactions for Rivian Automotive. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 20% being bullish and 70% bearish. Of all the options we discovered, 9 are puts, valued at $399,432, and there was a single call, worth $162,000.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $9.0 to $22.5 for Rivian Automotive over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Rivian Automotive stands at 10888.86, with a total volume reaching 5,495.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Rivian Automotive, situated within the strike price corridor from $9.0 to $22.5, throughout the last 30 days.
Rivian Automotive Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIVN | CALL | SWEEP | BEARISH | 01/17/25 | $1.64 | $1.62 | $1.62 | $10.00 | $162.0K | 41.5K | 1.0K |
| RIVN | PUT | SWEEP | BEARISH | 10/18/24 | $1.86 | $1.71 | $1.86 | $12.00 | $74.1K | 1.5K | 1 |
| RIVN | PUT | SWEEP | BEARISH | 11/15/24 | $0.55 | $0.54 | $0.55 | $9.00 | $72.0K | 5.0K | 1.5K |
| RIVN | PUT | SWEEP | BULLISH | 12/20/24 | $1.32 | $1.31 | $1.31 | $10.00 | $57.9K | 20.3K | 771 |
| RIVN | PUT | SWEEP | BEARISH | 10/18/24 | $1.9 | $1.89 | $1.9 | $12.00 | $38.0K | 1.5K | 1.0K |
About Rivian Automotive
Rivian Automotive Inc designs, develops, and manufactures category-defining electric vehicles and accessories. In the consumer market, the company launched the R1 platform with the first generation of consumer vehicles: the R1T, a two-row, five-passenger pickup truck, and the R1S, a three-row, seven-passenger sport utility vehicle (SUV).
After a thorough review of the options trading surrounding Rivian Automotive, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Rivian Automotive With a volume of 16,578,088, the price of RIVN is down -2.12% at $10.02. RSI indicators hint that the underlying stock may be oversold. Next earnings are expected to be released in 21 days. Professional Analyst Ratings for Rivian Automotive
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $14.6.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Rivian Automotive, which currently sits at a price target of $11. * An analyst from Goldman Sachs persists with their Neutral rating on Rivian Automotive, maintaining a target price of $11. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $19. * An analyst from Morgan Stanley downgraded its action to Equal-Weight with a price target of $13. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with 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 Rivian Automotive, Benzinga Pro gives you real-time options trades alerts.
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