Benzinga | Jan 12, 2022 10:36AM EST

This Is What Whales Are Betting On Rivian Automotive

A whale with a lot of money to spend has taken a noticeably bearish stance on Rivian Automotive.

Looking at options history for Rivian Automotive (NASDAQ:RIVN) we detected 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $280,675 and 5, calls, for a total amount of $299,350.

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 $50.0 to $105.0 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 $50.0 to $105.0 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 TRADE BEARISH 05/20/ $95.00 $122.0K 108 100 22RIVN CALL TRADE BEARISH 03/18/ $100.00 $58.8K 974 197 22RIVN PUT TRADE BEARISH 01/28/ $80.00 $57.0K 679 224 22RIVN CALL TRADE BULLISH 01/20/ $85.00 $49.4K 261 19 23RIVN PUT SWEEP BULLISH 03/18/ $80.00 $42.2K 1.3K 47 22

Where Is Rivian Automotive Standing Right Now?

* With a volume of 4,352,549, the price of RIVN is up 2.53% at $85.66.

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

* Next earnings are expected to be released in 38 days.

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.