Rivian Automotive Option Alert: Fri $9.5 Calls Sweep (76) near the Ask: 7357 @ $0.153 vs 9904 OI; Earnings 5/7 After Close Ref=$9.15
Portfolio Pulse from Charles Gross
Rivian Automotive saw significant options activity with a sweep of 7,357 calls at a $9.5 strike price for $0.153 each, against an open interest of 9,904, ahead of its earnings report on May 7. The stock reference price was $9.15.
April 23, 2024 | 3:57 pm
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POSITIVE IMPACT
Rivian Automotive's options activity indicates investor anticipation or speculation ahead of its earnings report. The high volume of calls suggests a bullish outlook from some traders.
The significant volume of call options at a strike price slightly above Rivian's current stock price suggests that investors are speculating on a positive earnings report or news that could drive the stock price up in the short term. This kind of options activity often precedes anticipated positive movements in stock prices, though it's not a guaranteed indicator.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90