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Check Out What Whales Are Doing With RUN

Author: Benzinga Insights | July 12, 2024 02:18pm

Deep-pocketed investors have adopted a bullish approach towards Sunrun (NASDAQ:RUN), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in RUN usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 24 extraordinary options activities for Sunrun. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 66% leaning bullish and 29% bearish. Among these notable options, 7 are puts, totaling $1,214,540, and 17 are calls, amounting to $937,530.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $25.0 for Sunrun over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Sunrun stands at 11397.39, with a total volume reaching 6,669.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Sunrun, situated within the strike price corridor from $5.0 to $25.0, throughout the last 30 days.

Sunrun Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
RUN PUT TRADE BULLISH 06/20/25 $1.9 $1.44 $1.61 $10.00 $483.0K 1.5K 0
RUN PUT SWEEP BEARISH 01/17/25 $3.3 $3.15 $3.15 $16.00 $229.6K 736 0
RUN CALL SWEEP BEARISH 01/16/26 $6.75 $6.6 $6.6 $17.50 $211.2K 14.3K 0
RUN PUT TRADE BULLISH 01/16/26 $0.92 $0.63 $0.7 $5.00 $174.6K 10.6K 5
RUN PUT TRADE BEARISH 01/17/25 $0.44 $0.37 $0.44 $7.50 $110.0K 90.5K 0

About Sunrun

Sunrun is engaged in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The company acquires customers directly and through relationships with various solar and strategic partners. The solar systems are constructed either by Sunrun or by Sunrun's partners and are owned by the company. Sunrun's customers typically enter into 20- to 25-year agreements to utilize its solar energy system. The company also sells solar energy systems and products, such as panels and racking, and solar leads generated to customers.

Current Position of Sunrun

  • With a volume of 12,607,788, the price of RUN is up 6.97% at $17.19.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 25 days.

What The Experts Say On Sunrun

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $29.0.

  • An analyst from Morgan Stanley has decided to maintain their Overweight rating on Sunrun, which currently sits at a price target of $29.

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 Sunrun, Benzinga Pro gives you real-time options trades alerts.

Posted In: RUN

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