Redfin's Options Frenzy: What You Need to Know
Whales with a lot of money to spend have taken a noticeably bullish stance on Redfin.
Looking at options history for Redfin RDFN we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 45% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $92,538 and 8, calls, for a total amount of $432,165.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $16.0 for Redfin during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Redfin’s options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Redfin’s whale activity within a strike price range from $10.0 to $16.0 in the last 30 days.
Redfin Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RDFN | CALL | TRADE | NEUTRAL | 11/15/24 | $2.5 | $2.4 | $2.45 | $14.00 | $122.2K | 1.8K | 507 |
| RDFN | CALL | TRADE | BULLISH | 10/18/24 | $4.3 | $4.2 | $4.3 | $10.00 | $64.5K | 2.8K | 200 |
| RDFN | CALL | SWEEP | BEARISH | 01/17/25 | $2.6 | $2.5 | $2.5 | $16.00 | $50.0K | 357 | 876 |
| RDFN | CALL | SWEEP | BULLISH | 11/15/24 | $1.6 | $1.5 | $1.6 | $16.00 | $48.0K | 521 | 300 |
| RDFN | CALL | SWEEP | BEARISH | 01/17/25 | $4.9 | $4.7 | $4.73 | $11.00 | $47.2K | 2.4K | 143 |
About Redfin
Redfin Corp is a residential real estate broker. It pairs its agents with the technology to create a service that is faster and costs less. The company meets customers through a listings-search website and mobile application. The company uses the same combination of technology and local service to originate mortgage loans and offer title and settlement services. It has five operating segments and three reportable segments, real estate services, rentals, and mortgage. The company generates the majority of its revenue from Real estate services.
After a thorough review of the options trading surrounding Redfin, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Redfin
- With a trading volume of 9,416,053, the price of RDFN is up by 4.18%, reaching $14.21.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 44 days from now.
Professional Analyst Ratings for Redfin
In the last month, 1 experts released ratings on this stock with an average target price of $13.0.
- An analyst from B. Riley Securities upgraded its action to Buy with a price target of $13.
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 Redfin, Benzinga Pro gives you real-time options trades alerts.
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