Decoding Rivian Automotive's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Benzinga's options scanner revealed significant options activity on Rivian Automotive (NASDAQ:RIVN), indicating a mixed sentiment among big-money traders, with 59% bullish and 27% bearish. The activity focuses on a price range between $7.5 and $20.0. Notable trades include both puts and calls with varying sentiments and strike prices. Rivian's current stock price is $10.2, with a recent downgrade by Truist Securities to Hold and a price target of $10. Analysts have mixed opinions, with price targets ranging from $9 to $15. The next earnings report is due in 89 days.

May 09, 2024 | 7:01 pm
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Rivian Automotive shows mixed options activity with a bullish lean. Analysts' ratings vary, with a recent downgrade to Hold by Truist Securities and a price target of $10. The stock is currently at $10.2.
The mixed sentiment in options activity, combined with recent analyst downgrades and a narrow price target range, suggests a neutral short-term impact. The stock's current price is close to the lower end of the options activity price range, indicating potential stability but limited upside in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100