Unpacking the Latest Options Trading Trends in Rivian Automotive

Deep-pocketed investors have adopted a bearish approach towards Rivian Automotive RIVN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in RIVN usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 26 extraordinary options activities for Rivian Automotive. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 46% leaning bullish and 53% bearish. Among these notable options, 7 are puts, totaling $294,806, and 19 are calls, amounting to $1,600,360.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $22.0 for Rivian Automotive over the recent three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Rivian Automotive's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Rivian Automotive's significant trades, within a strike price range of $5.0 to $22.0, over the past month.

Rivian Automotive Option Activity Analysis: Last 30 Days

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 from remarketing, vehicle repair and maintenance services, and vehicle electrical architecture and software development services.

After a thorough review of the options trading surrounding Rivian Automotive, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Rivian Automotive

• With a trading volume of 58,740,862, the price of RIVN is up by 5.0%, reaching $14.38.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 62 days from now.

Expert Opinions on Rivian Automotive

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $14.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Rivian Automotive, which currently sits at a price target of $12. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $14. * Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Rivian Automotive, targeting a price of $16.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Rivian Automotive with Benzinga Pro for real-time alerts.