Rivian Automotive's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Rivian Automotive (NASDAQ:RIVN), with a significant move in options trading observed. Benzinga's options scanner revealed 12 extraordinary activities, with a general mood of 41% bullish and 58% bearish. The largest trades include both calls and puts with expectations of Rivian's price moving between $10.0 to $20.0. Rivian's current trading volume is 7,445,526, with a price decrease of -1.54%, and an earnings announcement expected in 54 days. Analyst ratings vary, with an average target price of $15.6.
March 14, 2024 | 2:16 pm
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NEGATIVE IMPACT
Rivian Automotive has seen a bearish sentiment in options trading, with a significant volume of trades. The stock is currently down -1.54%, with an earnings announcement expected in 54 days. Analysts have mixed ratings, with an average target price of $15.6.
The bearish sentiment in options trading, combined with the current price decrease and the mixed analyst ratings, suggests a short-term negative impact on RIVN's stock price. The significant options activity, especially the bearish sentiment among deep-pocketed investors, indicates a lack of confidence in the stock's short-term performance. However, the upcoming earnings announcement could be a pivotal moment for the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100