Unpacking the Latest Options Trading Trends in Riot Platforms

Author: Benzinga Insights | May 17, 2024 02:01pm

Financial giants have made a conspicuous bullish move on Riot Platforms. Our analysis of options history for Riot Platforms (NASDAQ:RIOT) revealed 11 unusual trades.

Delving into the details, we found 54% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $59,290, and 9 were calls, valued at $269,189.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $9.0 and $20.0 for Riot Platforms, spanning the last three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Riot Platforms's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Riot Platforms's substantial trades, within a strike price spectrum from $9.0 to $20.0 over the preceding 30 days.

Riot Platforms Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
RIOT	CALL	TRADE	BULLISH	12/20/24	$2.55	$2.54	$2.55	$11.00	$35.7K	1.1K	140
RIOT	PUT	TRADE	BULLISH	05/24/24	$0.36	$0.34	$0.34	$10.00	$34.0K	3.3K	2.5K
RIOT	CALL	SWEEP	BULLISH	12/20/24	$1.28	$1.23	$1.28	$20.00	$33.3K	1.0K	309
RIOT	CALL	SWEEP	BULLISH	06/21/24	$0.3	$0.26	$0.29	$15.00	$31.2K	17.7K	1.2K
RIOT	CALL	TRADE	BULLISH	01/17/25	$1.47	$1.47	$1.47	$20.00	$29.4K	19.2K	792

About Riot Platforms

Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies. The company's segments include Bitcoin Mining; Data Center Hosting and Engineering. It generates maximum revenue from the Bitcoin Mining segment which generates revenue from the Bitcoin the company earns through its mining activities.

Present Market Standing of Riot Platforms

• Trading volume stands at 11,957,865, with RIOT's price up by 2.1%, positioned at $10.21.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 82 days.

What Analysts Are Saying About Riot Platforms

5 market experts have recently issued ratings for this stock, with a consensus target price of $16.8.

• An analyst from B. Riley Securities persists with their Buy rating on Riot Platforms, maintaining a target price of $15.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $17.
• An analyst from HC Wainwright & Co. persists with their Buy rating on Riot Platforms, maintaining a target price of $17.
• An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $20.
• Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Riot Platforms with a target price 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 Riot Platforms options trades with real-time alerts from Benzinga Pro.

Posted In: RIOT