Rivian Automotive Option Alert: Mar 15 $30 Calls at the Ask: 3600 @ $0.28 vs 9500 OI; Earnings 2/21 After Close Ref=$19.315
Portfolio Pulse from Charles Gross
Rivian Automotive saw significant options activity with 3,600 contracts traded for March 15 $30 calls at $0.28 each versus an open interest of 9,500 contracts. This activity comes ahead of Rivian's earnings report scheduled for release after the market close on February 21, with the stock reference price at $19.315.
January 08, 2024 | 4:52 pm
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POSITIVE IMPACT
Increased options activity on Rivian Automotive suggests heightened investor interest and speculation ahead of the upcoming earnings report. The trading of calls may indicate a bullish sentiment among some investors.
The purchase of call options in large volumes often implies that investors are expecting the stock to rise, which could be due to anticipated positive earnings. However, the actual impact on the stock will depend on the earnings results and the market's interpretation.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100