3RKT : A Closer Look at Rocket Companies's Options Market Dynamics

Whales with a lot of money to spend have taken a noticeably bullish stance on Rocket Companies.

Looking at options history for Rocket Companies RKT we detected 37 trades.

If we consider the specifics of each trade, it is accurate to state that 59% of the investors opened trades with bullish expectations and 35% with bearish.

From the overall spotted trades, 27 are puts, for a total amount of $2,172,514 and 10, calls, for a total amount of $1,654,785.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $9.2 and $29.2 for Rocket Companies, spanning the last three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Rocket Companies’s options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Rocket Companies’s significant trades, within a strike price range of $9.2 to $29.2, over the past month.

Rocket Companies Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Rocket Companies

Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company’s mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company’s lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket’s origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the US as well as the servicer for more than 2 million loans.

After a thorough review of the options trading surrounding Rocket Companies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Rocket Companies’s Current Market Status

• Currently trading with a volume of 29,399,238, the RKT’s price is down by -9.59%, now at $11.78.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 31 days.

What The Experts Say On Rocket Companies

2 market experts have recently issued ratings for this stock, with a consensus target price of $12.5.

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* An analyst from Wedbush has revised its rating downward to Neutral, adjusting the price target to $13.
* An analyst from Keefe, Bruyette & Woods persists with their Underperform rating on Rocket Companies, maintaining a target price of $12.

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