Benzinga | Dec 31, 2021 12:58PM EST

What Are Whales Doing With Rivian Automotive

Someone with a lot of money to spend has taken a bullish 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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Rivian Automotive.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $122,500, and 7 are calls, for a total amount of $334,746.

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 $75.0 to $135.0 for Rivian Automotive over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $75.0 to $135.0 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 CALL SWEEP NEUTRAL 12/31/ $100.00 $73.3K 2.6K 626 21RIVN CALL SWEEP BULLISH 12/31/ $107.00 $68.0K 945 36 21RIVN CALL TRADE BEARISH 01/07/ $100.00 $59.0K 575 100 22RIVN CALL SWEEP BEARISH 03/18/ $115.00 $50.1K 602 69 22RIVN PUT SWEEP NEUTRAL 01/07/ $104.00 $49.0K 193 225 22

Where Is Rivian Automotive Standing Right Now?

* With a volume of 3,133,296, the price of RIVN is up 0.68% at $104.12.

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

* Next earnings are expected to be released in 50 days.

What The Experts Say On Rivian Automotive:

* Wedbush downgraded its action to Outperform with a price target of $130

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

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

* RBC Capital downgraded its action to Outperform with a price target of $165

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

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.