Benzinga | Oct 15, 2021 12:11PM EDT

Check Out What Whales Are Doing With RIOT

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bullish stance on Riot Blockchain(NASDAQ:RIOT).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with RIOT, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Riot Blockchain.

This isn't normal.

The overall sentiment of these big-money traders is split between 70.0% bullish and 30.0%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $242,808, and 6 are calls, for a total amount of $272,459.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $22.0 to $35.0 for Riot Blockchain over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Riot Blockchain options trades today is 1790.5555555555557 with a total volume of 15,772.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Riot Blockchain's big money trades within a strike price range of $22.0 to $35.0 over the last 30 days.

Riot Blockchain Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestRIOT PUT TRADE BULLISH 01/21/ $22.00 $140.2K 280 606 22RIOT CALL SWEEP BULLISH 10/22/ $26.00 $72.6K 1.5K 849 21RIOT CALL SWEEP BULLISH 12/17/ $35.00 $65.5K 1.3K 600 21RIOT PUT TRADE BEARISH 11/19/ $23.00 $47.1K 597 386 21RIOT CALL SWEEP BULLISH 10/29/ $29.00 $39.5K 1.1K 557 21

Where Is Riot Blockchain Standing Right Now?

* With a volume of 11,923,908, the price of RIOT is up 2.52% at $26.78.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 24 days.

What The Experts Say On Riot Blockchain:

* DA Davidson downgraded its action to Buy with a price target of $42.0

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.