Rivian Automotive's Options Frenzy: What You Need to Know

Author: Benzinga Insights | June 06, 2024 01:31pm

Financial giants have made a conspicuous bullish move on Rivian Automotive. Our analysis of options history for Rivian Automotive (NASDAQ:RIVN) revealed 8 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $67,962, and 6 were calls, valued at $224,532.

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 $10.0 to $20.0 for Rivian Automotive over the last 3 months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Rivian Automotive's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Rivian Automotive's significant trades, within a strike price range of $10.0 to $20.0, over the past month.

Rivian Automotive Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
RIVN	CALL	SWEEP	BEARISH	12/18/26	$5.35	$5.0	$5.04	$12.50	$50.4K	955	0
RIVN	CALL	SWEEP	BULLISH	08/16/24	$1.35	$1.2	$1.35	$12.50	$46.5K	26.5K	0
RIVN	CALL	SWEEP	BULLISH	07/19/24	$0.52	$0.51	$0.52	$14.00	$39.0K	1.4K	2.3K
RIVN	PUT	SWEEP	BULLISH	06/07/24	$0.4	$0.38	$0.38	$11.50	$37.9K	2.8K	93
RIVN	CALL	SWEEP	BEARISH	06/21/24	$0.59	$0.57	$0.58	$12.00	$34.1K	4.0K	1.1K

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).

Rivian Automotive's Current Market Status

• With a volume of 12,620,256, the price of RIVN is up 1.02% at $11.57.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 61 days.

What The Experts Say On Rivian Automotive

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $12.25.

• An analyst from Mizuho has decided to maintain their Neutral rating on Rivian Automotive, which currently sits at a price target of $11.
• An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $13.
• An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Rivian Automotive, which currently sits at a price target of $10.
• Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Rivian Automotive, targeting a price of $15.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Rivian Automotive with Benzinga Pro for real-time alerts.

Posted In: RIVN