Deep-pocketed investors have adopted a bearish approach towards United Rentals (NYSE:URI), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in URI usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for United Rentals. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 18% leaning bullish and 72% bearish. Among these notable options, 2 are puts, totaling $143,681, and 9 are calls, amounting to $910,872.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $360.0 to $850.0 for United Rentals 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 United Rentals'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 United Rentals's whale activity within a strike price range from $360.0 to $850.0 in the last 30 days.
United Rentals Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | CALL | TRADE | BEARISH | 09/20/24 | $32.5 | $30.6 | $30.1 | $740.00 | $451.5K | 195 | 154 |
| URI | CALL | TRADE | BEARISH | 10/18/24 | $403.0 | $395.8 | $397.5 | $360.00 | $119.2K | 0 | 5 |
| URI | PUT | SWEEP | BEARISH | 09/20/24 | $21.6 | $20.0 | $21.44 | $740.00 | $100.4K | 31 | 75 |
| URI | CALL | TRADE | BULLISH | 03/21/25 | $48.3 | $44.7 | $48.3 | $850.00 | $86.9K | 4 | 0 |
| URI | CALL | TRADE | BEARISH | 10/18/24 | $402.0 | $397.5 | $397.5 | $360.00 | $79.5K | 0 | 2 |
About United Rentals
United Rentals is the world's largest equipment rental company. It principally operates in the United States and Canada, where it commands approximately 15% share in a highly fragmented market. It serves three end markets: general industrial, commercial construction, and residential construction. Like its peers, United Rentals historically has provided its customers with equipment that was intermittently used, such as aerial equipment and portable generators. As the company has grown organically and through hundreds of acquisitions since it went public in 1997, its catalog (fleet size of $21 billion) now includes a range of specialty equipment and other items that can be rented for indefinite periods.
After a thorough review of the options trading surrounding United Rentals, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
United Rentals's Current Market Status
- Trading volume stands at 123,382, with URI's price down by -0.46%, positioned at $741.58.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 58 days.
What The Experts Say On United Rentals
In the last month, 1 experts released ratings on this stock with an average target price of $795.0.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for United Rentals, targeting a price of $795.
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.
