Rivian Automotive Option Alert: Jul 14 $16.5 Calls Sweep (29) near the Ask: 515 @ $0.731 vs 1741 OI; Earnings 8/10 After Close [est] Ref=$14.83
Portfolio Pulse from Charles Gross
Rivian Automotive (RIVN) sees a surge in July 14 $16.5 call options near the ask price, with 515 contracts traded at $0.731, compared to 1741 open interest. Earnings are expected on August 10 after market close.
June 15, 2023 | 2:22 pm
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Increased activity in Rivian Automotive's July 14 $16.5 call options may indicate bullish sentiment ahead of earnings release on August 10.
The surge in call options trading near the ask price suggests that investors are expecting a positive price movement for Rivian Automotive's stock in the short term. This bullish sentiment may be driven by anticipation of a favorable earnings report on August 10. However, it is important to note that options trading activity can be volatile and may not always accurately predict stock price movements.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100