Spotlight on Rivian Automotive: Analyzing the Surge in Options Activity

Whales with a lot of money to spend have taken a noticeably bullish stance on Rivian Automotive.

Looking at options history for Rivian Automotive RIVN we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 22% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $266,692 and 5, calls, for a total amount of $252,108.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $6.0 to $14.0 for Rivian Automotive during the past quarter.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Rivian Automotive'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 Rivian Automotive's whale trades within a strike price range from $6.0 to $14.0 in the last 30 days.

Rivian Automotive 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Rivian Automotive

Rivian Automotive Inc is an automotive manufacturer that develops and builds electric vehicles ("EVs") as well as software and services. It launches its consumer vehicle business with the R1 platform consisting of two vehicles: the R1T, and the R1S. The company has two reportable segments: Automotive, which derives the majority of revenue, and Software and Services segment. The Automotive reportable segment derives its revenues and cost of revenues from the production and sale of new EVs and the sale of regulatory credits generated by the production and sale of EVs. The Software and services reportable segment derives its revenues and cost of revenues primarily from remarketing, vehicle repair and maintenance services, and vehicle electrical architecture and software development services.

In light of the recent options history for Rivian Automotive, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Rivian Automotive

• With a trading volume of 8,041,579, the price of RIVN is down by -0.83%, reaching $10.79.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 46 days from now.

What The Experts Say On Rivian Automotive

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $13.4.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Guggenheim continues to hold a Buy rating for Rivian Automotive, targeting a price of $16. * Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Rivian Automotive with a target price of $11. * An analyst from Mizuho has decided to maintain their Neutral rating on Rivian Automotive, which currently sits at a price target of $13. * In a cautious move, an analyst from B of A Securities downgraded its rating to Underperform, setting a price target of $10. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Rivian Automotive, targeting a price of $17.

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