Someone with a lot of money to spend has taken a bullish stance on Riot Blockchain RIOT.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don’t know. But when something this big happens with RIOT, it often means somebody knows something is about to happen.
Today, Benzinga’s options scanner spotted 10 options trades for Riot Blockchain.
This isn’t normal.
The overall sentiment of these big-money traders is split between 70% bullish and 30%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $35,000, and 9, calls, for a total amount of $515,345..
What’s The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $3.0 to $14.0 for Riot Blockchain over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Riot Blockchain options trades today is 4824.86 with a total volume of 3,649.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Riot Blockchain’s big money trades within a strike price range of $3.0 to $14.0 over the last 30 days.
Riot Blockchain Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | SWEEP | BULLISH | 09/16/22 | $4.00 | $131.2K | 356 | 1.1K |
| RIOT | CALL | SWEEP | BULLISH | 09/16/22 | $4.00 | $86.6K | 356 | 700 |
| RIOT | CALL | SWEEP | BEARISH | 01/19/24 | $10.00 | $64.0K | 4.2K | 481 |
| RIOT | CALL | SWEEP | BEARISH | 01/19/24 | $10.00 | $63.0K | 4.2K | 467 |
| RIOT | CALL | SWEEP | BEARISH | 09/16/22 | $4.00 | $57.7K | 356 | 475 |
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | SWEEP | BULLISH | 09/16/22 | $4.00 | $131.2K | 356 | 1.1K |
| RIOT | CALL | SWEEP | BULLISH | 09/16/22 | $4.00 | $86.6K | 356 | 700 |
| RIOT | CALL | SWEEP | BEARISH | 01/19/24 | $10.00 | $64.0K | 4.2K | 481 |
| RIOT | CALL | SWEEP | BEARISH | 01/19/24 | $10.00 | $63.0K | 4.2K | 467 |
| RIOT | CALL | SWEEP | BEARISH | 09/16/22 | $4.00 | $57.7K | 356 | 475 |
Where Is Riot Blockchain Standing Right Now?
- With a volume of 13,603,331, the price of RIOT is down -6.3% at $7.14.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 19 days.
What The Experts Say On Riot Blockchain:
- Compass Point upgraded its action to Buy with a price target of $14
- B. Riley Securities has decided to maintain their Buy rating on Riot Blockchain, which currently sits at a price target of $16.
- Cantor Fitzgerald downgraded its action to Overweight with a price target of $42
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 Riot Blockchain, Benzinga Pro gives you real-time options trades alerts.