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Check Out What Whales Are Doing With RH

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

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 RH, 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 19 uncommon options trades for RH.

This isn’t normal.

The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $284,668, and 14 are calls, for a total amount of $953,820.

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 $260.0 to $560.0 for RH 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 RH’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 RH’s whale trades within a strike price range from $260.0 to $560.0 in the last 30 days.

RH 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
RH PUT TRADE NEUTRAL 01/19/24 $560.00 $123.7K 34 5
RH CALL TRADE BEARISH 08/19/22 $260.00 $102.5K 54 75
RH CALL TRADE BULLISH 08/19/22 $260.00 $100.0K 54 250
RH CALL SWEEP BEARISH 08/19/22 $260.00 $94.5K 54 150
RH CALL TRADE BULLISH 08/19/22 $270.00 $80.0K 568 150
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
RH PUT TRADE NEUTRAL 01/19/24 $560.00 $123.7K 34 5
RH CALL TRADE BEARISH 08/19/22 $260.00 $102.5K 54 75
RH CALL TRADE BULLISH 08/19/22 $260.00 $100.0K 54 250
RH CALL SWEEP BEARISH 08/19/22 $260.00 $94.5K 54 150
RH CALL TRADE BULLISH 08/19/22 $270.00 $80.0K 568 150

Where Is RH Standing Right Now?

  • With a volume of 148,511, the price of RH is up 1.03% at $249.83.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 76 days.

What The Experts Say On RH:

  • Morgan Stanley has decided to maintain their Equal-Weight rating on RH, which currently sits at a price target of $385.
  • B of A Securities has decided to maintain their Buy rating on RH, which currently sits at a price target of $550.
  • Cowen & Co. has decided to maintain their Outperform rating on RH, which currently sits at a price target of $450.
  • Telsey Advisory Group has decided to maintain their Outperform rating on RH, which currently sits at a price target of $375.
  • Wells Fargo has decided to maintain their Overweight rating on RH, which currently sits at a price target of $400.

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 want to stay updated on the latest options trades for RH, Benzinga Pro gives you real-time options trades alerts.

This post was originally published on this site

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