Big spenders, commonly known as whales in the financial world, have recently showcased a strong bullish sentiment towards the renowned entity, Riot Platforms.
Upon careful examination of the options history associated with Riot Platforms (RIOT) on the NASDAQ, a total of 13 trades have been identified.
Breaking down the specifics of these trades reveals an interesting fact: 53% of investors initiated trades with optimistic, bullish expectations, while 46% took a bearish approach.
Among these trades, 5 are put options amounting to $272,740, whereas 8 are call options amounting to a total of $369,305.
Unveiling the Price Target
Digging deeper into the Volume and Open Interest associated with these contracts, it becomes apparent that the whales have been eyeing a price range spanning from $10.0 to $35.0 for Riot Platforms over the last three months.
Analyzing Volume & Open Interest Trends
Scrutinizing the volume and open interest provides valuable insights for evaluating a stock’s potential performance.
This crucial data aids in monitoring the liquidity and interest levels surrounding Riot Platforms’ options at various strike prices.
Here, we witness the progression of both call and put options in terms of volume and open interest within the $10.0 to $35.0 strike price range, reflecting the recent activities of Riot Platforms’ major investors over the past 30 days.
Snapshot of Riot Platforms’ 30-Day Option Volume & Interest
Identified Significant Options Trades
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIOT | PUT | TRADE | BEARISH | 01/17/25 | $20.00 | $107.5K | 1.6K | 105 |
| RIOT | CALL | TRADE | BULLISH | 06/21/24 | $10.00 | $79.0K | 2.4K | 36 |
| RIOT | CALL | SWEEP | BULLISH | 01/17/25 | $20.00 | $63.2K | 11.1K | 264 |
| RIOT | PUT | SWEEP | BEARISH | 03/22/24 | $12.00 | $59.6K | 1.5K | 518 |
| RIOT | CALL | SWEEP | BULLISH | 03/15/24 | $12.00 | $48.8K | 19.9K | 1.3K |
Exploring Riot Platforms
Riot Platforms Inc distinguishes itself as a vertically integrated Bitcoin mining company, emphasizing the development, maintenance, and operation of blockchain technologies. The company’s main areas of operation encompass Bitcoin Mining, Data Center Hosting, and Engineering, with the Bitcoin Mining segment being the primary revenue generator through the coins mined.
Having scrutinized the options trading trends associated with Riot Platforms, it is now pertinent to shift our focus directly to the company itself. This transition enables us to delve into the present market standing and performance of the organization.
Assessing Riot Platforms’ Current Position
- The current trading volume records at 10,672,988, with RIOT’s share price experiencing a slight dip of -0.66%, settling at $12.04.
- Analysis based on the Relative Strength Index (RSI) suggests that the stock currently maintains a neutral stance, hovering between the overbought and oversold territories.
- An upcoming earnings announcement is anticipated within the next 62 days.
Expert Insights on Riot Platforms
Five market experts have recently shared their evaluations regarding this entity, collectively establishing a consensus target price of $19.4.
- An analyst affiliated with Cantor Fitzgerald has opted to sustain their optimistic Overweight rating for Riot Platforms, with a target price set at $20.
- In a more cautious strategy, another analyst from Cantor Fitzgerald has downgraded the rating to Overweight, aligning the target price at $19.
- Remaining steadfast in their position, an analyst associated with HC Wainwright & Co. maintains a Buy rating for Riot Platforms, projecting a price target of $20.
- A revision has been made by an analyst from Cantor Fitzgerald, adjusting the rating to Overweight and revising the target price to $20.
- Steadfast in their stance, an analyst from Needham persists with a Buy rating on Riot Platforms, with the current price target set at $18.
When compared to standard stock trading, options present a riskier venture but carry higher profit prospects. Seasoned options traders adeptly manage this risk through continuous education, strategic trade entries and exits, multifaceted indicator usage, and vigilant market monitoring.
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