This Is What Whales Are Betting On Rivian Automotive

Author: Benzinga Insights | August 23, 2024 02:16pm

Financial giants have made a conspicuous bullish move on Rivian Automotive. Our analysis of options history for Rivian Automotive (NASDAQ:RIVN) revealed 13 unusual trades.

Delving into the details, we found 61% of traders were bullish, while 23% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $142,995, and 10 were calls, valued at $509,600.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $4.0 to $22.5 for Rivian Automotive over the recent three months.

Volume & Open Interest Development

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 $4.0 to $22.5, over the past month.

Rivian Automotive Option Volume And Open Interest Over 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	CALL	TRADE	BEARISH	12/20/24	$4.6	$4.55	$4.57	$10.00	$91.4K	1.6K	202
RIVN	PUT	SWEEP	BULLISH	10/18/24	$3.1	$3.05	$3.05	$16.00	$82.9K	5.7K	572
RIVN	CALL	SWEEP	BEARISH	12/20/24	$3.25	$3.15	$3.2	$11.00	$68.4K	3.1K	14
RIVN	CALL	SWEEP	BULLISH	08/30/24	$3.2	$3.15	$3.2	$10.00	$64.0K	341	201
RIVN	CALL	SWEEP	NEUTRAL	12/20/24	$9.9	$9.85	$9.85	$4.00	$49.2K	265	50

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).

Where Is Rivian Automotive Standing Right Now?

• Currently trading with a volume of 29,206,136, the RIVN's price is up by 8.78%, now at $13.94.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 74 days.

What Analysts Are Saying About Rivian Automotive

In the last month, 5 experts released ratings on this stock with an average target price of $16.2.

• Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Rivian Automotive, targeting a price of $15.
• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $19.
• An analyst from Truist Securities has decided to maintain their Hold rating on Rivian Automotive, which currently sits at a price target of $16.
• An analyst from UBS persists with their Neutral rating on Rivian Automotive, maintaining a target price of $16.
• In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $15.

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