This is what whales are betting on Riot Blockchain
Someone with a lot of money to spend has taken a bullish stance on Riot Blockchain RIOT.
And retailers should know.
We noticed this today when the large position appeared on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we do not know. But when something this big happens with RIOT, it often means that someone knows something is about to happen.
Today, Benzinga’s options scanner detected 10 options trades for Riot Blockchain.
This is not normal.
The overall sentiment of these major money traders is split between 70% bullish and 30%, bearish.
Of all the options we uncovered, there were 1 puts, for a total amount of $35,000, and 9, calls, for a total amount of $515,345.
What is the price target?
Considering the volume and open interest on these contracts, it appears that whales have targeted a price range from $3.0 to $14.0 for Riot Blockchain over the past 3 months.
Volume and open interest development
In terms of liquidity and interest, the average open interest for Riot Blockchain options trades today is 4,824.86 with a total volume of 3,649.00.
In the following chart, we are able to follow the development of volume and open interest for call and put options for Riot Blockchain’s major money trades within a strike price range of $3.0 to $14.0 over the past 30 days.
Riot Blockchain options volume and open interest for the last 30 days
The biggest options discovered:
| Symbol | PUT/RING | Trade type | Sentiment | Ex.Date | Redemption price | Total trade price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | SWEEP | BULLISH | 16.09.22 | $4.00 | $131.2K | 356 | 1.1,000 |
| RIOT | CALL | SWEEP | BULLISH | 16.09.22 | $4.00 | $86.6K | 356 | 700 |
| RIOT | CALL | SWEEP | BEARISH | 19.01.24 | $10.00 | $64.0K | 4.2K | 481 |
| RIOT | CALL | SWEEP | BEARISH | 19.01.24 | $10.00 | $63.0K | 4.2K | 467 |
| RIOT | CALL | SWEEP | BEARISH | 16.09.22 | $4.00 | $57.7K | 356 | 475 |
| Symbol | PUT/RING | Trade type | Sentiment | Ex.Date | Redemption price | Total trade price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIOT | CALL | SWEEP | BULLISH | 16.09.22 | $4.00 | $131.2K | 356 | 1.1,000 |
| RIOT | CALL | SWEEP | BULLISH | 16.09.22 | $4.00 | $86.6K | 356 | 700 |
| RIOT | CALL | SWEEP | BEARISH | 19.01.24 | $10.00 | $64.0K | 4.2K | 481 |
| RIOT | CALL | SWEEP | BEARISH | 19.01.24 | $10.00 | $63.0K | 4.2K | 467 |
| RIOT | CALL | SWEEP | BEARISH | 16.09.22 | $4.00 | $57.7K | 356 | 475 |
Where does Riot Blockchain stand right now?
- With a volume of 13,603,331, the price of RIOT is down -6.3% to $7.14.
- RSI indicators suggest that the underlying stock may be approaching overbought.
- The next earnings are expected to be announced in 19 days.
What the experts say about Riot Blockchain:
- Compass Point upgraded its action to Buy with a price target of $14
- B. Riley Securities has decided to maintain its Buy rating on Riot Blockchain, which currently has a price target of $16.
- Cantor Fitzgerald downgraded the stock 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 up-to-date on the latest options trades for Riot Blockchain, Benzinga Pro provides you with real-time options alerts.
