Benzinga | Dec 20, 2021 10:37AM EST

What Are Whales Doing With Rivian Automotive

Someone with a lot of money to spend has taken a bearish stance on Rivian Automotive (NASDAQ:RIVN).

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 RIVN, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 14 options trades for Rivian Automotive.

This isn't normal.

The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.

Out of all of the options we uncovered, 13 are puts, for a total amount of $808,389, and there was 1 call, for a total amount of $32,760.

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 $55.0 to $108.0 for Rivian Automotive over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Rivian Automotive's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Rivian Automotive's whale trades within a strike price range from $55.0 to $108.0 in the last 30 days.

Rivian Automotive 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 InterestRIVN PUT SWEEP BULLISH 01/14/ $95.00 $204.0K 326 211 22RIVN PUT TRADE BEARISH 01/14/ $80.00 $84.0K 343 213 22RIVN PUT SWEEP BEARISH 12/23/ $90.00 $82.7K 3.1K 1.4K 21RIVN PUT SWEEP BULLISH 12/31/ $90.00 $75.0K 4.5K 870 21RIVN PUT SWEEP BEARISH 01/19/ $55.00 $56.1K 348 0 24

Where Is Rivian Automotive Standing Right Now?

* With a volume of 3,052,085, the price of RIVN is down -3.5% at $94.28.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 61 days.

What The Experts Say On Rivian Automotive:

* Wells Fargo downgraded its action to Equal-Weight with a price target of $110

* Morgan Stanley downgraded its action to Overweight with a price target of $147

* B of A Securities downgraded its action to Buy with a price target of $170

* Deutsche Bank downgraded its action to Buy with a price target of $130

* Baird downgraded its action to Outperform with a price target of $150

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.