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

Author: Benzinga Insights | July 09, 2024 01:00pm

Investors with a lot of money to spend have taken a bullish stance on Rivian Automotive (NASDAQ:RIVN).

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 RIVN, 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 19 uncommon options trades for Rivian Automotive.

This isn't normal.

The overall sentiment of these big-money traders is split between 68% bullish and 15%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $605,179, and 12 are calls, for a total amount of $545,133.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $12.5 to $30.0 for Rivian Automotive during the past quarter.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Rivian Automotive options trades today is 8888.69 with a total volume of 9,085.00.

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 $12.5 to $30.0 over the last 30 days.

Rivian Automotive Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
RIVN	PUT	TRADE	NEUTRAL	08/16/24	$0.34	$0.32	$0.33	$12.50	$330.0K	38.6K	135
RIVN	CALL	TRADE	BULLISH	06/20/25	$2.58	$2.21	$2.5	$22.50	$137.5K	1.2K	4
RIVN	PUT	SWEEP	BULLISH	09/20/24	$4.9	$4.85	$4.85	$20.00	$73.7K	1.9K	13
RIVN	PUT	SWEEP	BULLISH	09/20/24	$2.98	$2.95	$2.95	$17.50	$57.8K	7.0K	296
RIVN	CALL	SWEEP	BULLISH	09/20/24	$2.21	$2.19	$2.22	$16.00	$55.5K	2.4K	2.1K

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

• Currently trading with a volume of 32,348,237, the RIVN's price is up by 2.52%, now at $15.88.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 28 days.

Professional Analyst Ratings for Rivian Automotive

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $18.0.

• An analyst from Guggenheim has revised its rating downward to Buy, adjusting the price target to $18.
• Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Rivian Automotive with a target price of $20.
• Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Rivian Automotive with a target price of $19.
• An analyst from Wedbush has decided to maintain their Outperform rating on Rivian Automotive, which currently sits at a price target of $20.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Rivian Automotive with a target price of $13.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Rivian Automotive options trades with real-time alerts from Benzinga Pro.

Posted In: RIVN