(RIOT) – Options Trading: Riot Blockchain’s Smart Money Trades For September 20

Someone with a lot of money to spend (and possibly insider knowledge) has taken an unusually bearish stance on Riot Blockchain.

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 the Smart Money just did?

Today, Benzinga’s options scanner spotted 24 uncommon options trades for Riot Blockchain (NASDAQ:RIOT).

This isn’t normal.

The overall sentiment of these big-money traders is split between 41.67% bullish and 58.33%, bearish.

Out of all of the special options we uncovered, there was 1 put, for a total amount of $54,587, and there was 1 call, for a total amount of $1,679,213.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that the smart money is targeting a price range from $16.0 to $80.0 for Riot Blockchain in the over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the total open interest for Riot Blockchain big money options trades today is 11,879 with a total volume of 353,157.

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 $16.0 to $80.0 over the last 30 days.

Riot Blockchain Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
RIOT CALL TRADE NEUTRAL 10/15/21 $35.00 $42.1K 2.4K 33.9K
RIOT CALL SWEEP BEARISH 10/15/21 $35.00 $79.3K 2.4K 26.9K
RIOT CALL TRADE BEARISH 10/15/21 $35.00 $79.6K 2.4K 25.9K
RIOT CALL SWEEP BEARISH 10/15/21 $35.00 $77.4K 2.4K 24.9K
RIOT CALL SWEEP BULLISH 10/15/21 $35.00 $32.2K 2.4K 30.1K

Where Is Riot Blockchain Standing Right Now?

  • With a volume of 6,586,971, the price of RIOT is up -5.05% over the last 24 hours at $27.82.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 49 days.

Price and RSI Chart

What The Experts Say On Riot Blockchain:

  • B. Riley Securities has decided to maintain their Buy rating on Riot Blockchain, which currently sits at a price target of $82.0.
  • B. Riley Securities has decided to maintain their Buy rating on Riot Blockchain, which currently sits at a price target of $51.0.
  • HC Wainwright & Co. has decided to maintain their Buy rating on Riot Blockchain, which currently sits at a price target of $50.0.

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.

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