High-rolling investors have positioned themselves bearish on Rigetti Computing (NASDAQ:RGTI), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in RGTI often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 17 options trades for Rigetti Computing. This is not a typical pattern.
The sentiment among these major traders is split, with 23% bullish and 70% bearish. Among all the options we identified, there was one put, amounting to $27,700, and 16 calls, totaling $1,630,393.
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 $10.0 to $20.0 for Rigetti Computing 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 Rigetti Computing'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 Rigetti Computing's whale trades within a strike price range from $10.0 to $20.0 in the last 30 days.
Rigetti Computing Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RGTI | CALL | SWEEP | BEARISH | 01/31/25 | $3.4 | $2.4 | $2.35 | $12.50 | $540.5K | 416 | 2.3K |
| RGTI | CALL | TRADE | NEUTRAL | 05/16/25 | $4.1 | $3.9 | $4.0 | $16.00 | $288.4K | 93 | 2.0K |
| RGTI | CALL | SWEEP | BEARISH | 01/17/25 | $2.1 | $2.0 | $2.0 | $13.00 | $120.0K | 4.9K | 859 |
| RGTI | CALL | SWEEP | BEARISH | 01/17/25 | $3.3 | $3.2 | $3.2 | $10.00 | $120.0K | 7.6K | 1.3K |
| RGTI | CALL | TRADE | BEARISH | 01/17/25 | $6.7 | $1.7 | $3.7 | $10.00 | $90.6K | 7.6K | 245 |
About Rigetti Computing
Rigetti Computing Inc is engaged in the business of full-stack quantum computing. Its proprietary quantum-classical infrastructure provides ultra-low latency integration with public and private clouds for high-performance practical quantum computing. The company has developed the industry's first multi-chip quantum processor for scalable quantum computing systems. Geographically, it derives a majority of its revenue from the United States.
Following our analysis of the options activities associated with Rigetti Computing, we pivot to a closer look at the company's own performance.
Present Market Standing of Rigetti Computing
- With a volume of 89,179,572, the price of RGTI is up 24.69% at $11.68.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 80 days.
What The Experts Say On Rigetti Computing
In the last month, 2 experts released ratings on this stock with an average target price of $8.0.
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