Options Market Statistics: Rivian Stock Hits 6-Day Winning Streak, Options Pop

Options Newsman wrote a column · Jul 13, 2024 09:17

News Highlights

$Rivian Automotive (RIVN.US)$ ended 8.05% higher. Its options trading volume was 0.77 million. Call contracts account for 67.8% of the total trading volume. The $20 calls expiring July 19 were traded most actively.

On Friday, Mizuho's analyst Vijay Rakesh reiterated a Neutral stance on Rivian Automotive Inc. but increased the price target from $11 to $15. Rakesh acknowledged the strengths in Rivian's electric truck segment. He highlighted that the automaker reported a 9% increase in electric vehicle (EV) deliveries for the second quarter, reaching approximately 13,800 units. This surge surpasses the actual production volume of new EVs, which stood at around 9,600 units for the same period.

Rivian's delivery figures not only exceeded the consensus estimate of 11,500 EVs but also indicated a significant reduction in the company's inventory surplus by selling close to 44% more electric trucks than it manufactured within the quarter.

Options Market Statistics: Rivian Stock Hits 6-Day Winning Streak, Options Pop

$Lucid Group (LCID.US)$ ended 25% higher. Its options trading volume was 0.45 million. Call contracts account for 70.7% of the total trading volume. The $4 calls expiring July 12 were traded most actively.

CEO Peter Rawlinson expressed favorable remarks regarding his firm's alliance with Saudi Arabia's Public Investment Fund (PIF), the principal shareholder in the electric vehicle (EV) sector. The company's stock prices experienced a significant increase earlier in the week, propelled by the release of vehicle delivery figures that surpassed expectations. The ongoing endorsement from the PIF is a positive indicator for the company's future operational prospects.

$MARA Holdings (MARA.US)$ ended 9.20% higher. Its options trading volume was 0.44 million. Call contracts account for 76.2% of the total trading volume. The $20 calls expiring July 12 were traded most actively.

The stock has gained momentum within the last 48 hours, driven by favorable macroeconomic developments and institutional capital inflows into the market. In the past 24 hours, Bitcoin has seen a 1% uptick.

Unusual Stock Options Activity

There was a noteworthy activity in $Rivian Automotive (RIVN.US)$, where multiple puts have topped volume to open interest ranking. The highest volume over open interest ratio reaches 178.5x with 25,162 contracts.

Daily Active Index & Sector ETF Options

Source: Barchart, Unusual Whales, The Guardian, Bloomberg

Option Volume: [Options Notes]Measuring liquidity: two key indicators to check

Open Interest: Open Interest Analysis: How to potentially grasp the market's capital flow?

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Option Expiration: Trade Options: Quickstart Guide

Implied Volatility Rank: Volatility Analysis: IV、HV、IV Rank、IV Percentile

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