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Investors with a lot of money to spend have taken a bullish stance on Robinhood Markets (NASDAQ:HOOD).
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 HOOD, 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 8 uncommon options trades for Robinhood Markets.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $89,504, and 6 are calls, for a total amount of $202,775.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $17.5 to $20.5 for Robinhood Markets during the past quarter.
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Robinhood Markets's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Robinhood Markets's significant trades, within a strike price range of $17.5 to $20.5, over the past month.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HOOD | PUT | SWEEP | BEARISH | 05/17/24 | $3.7 | $3.65 | $3.7 | $20.50 | $57.7K | 4 | 1 |
| HOOD | CALL | TRADE | BULLISH | 01/16/26 | $5.35 | $5.25 | $5.35 | $20.00 | $52.9K | 31.0K | 181 |
| HOOD | CALL | TRADE | BULLISH | 06/21/24 | $1.05 | $1.03 | $1.05 | $20.00 | $35.4K | 36.4K | 934 |
| HOOD | PUT | SWEEP | BULLISH | 05/10/24 | $1.2 | $1.16 | $1.16 | $17.50 | $31.7K | 390 | 279 |
| HOOD | CALL | SWEEP | BULLISH | 05/17/24 | $1.18 | $1.16 | $1.18 | $18.00 | $29.5K | 10.6K | 577 |
Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology. Its vertically integrated platform has enabled the introduction of new products and services such as cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access. It earns transaction-based revenues from routing user orders for options, equities, and cryptocurrencies to market makers when a routed order is executed.
After a thorough review of the options trading surrounding Robinhood Markets, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
In the last month, 5 experts released ratings on this stock with an average target price of $19.6.
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 Robinhood Markets with Benzinga Pro for real-time alerts.
Posted In: HOOD
