Deep-pocketed investors have adopted a bearish approach towards Rigetti Computing (NASDAQ:RGTI), 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 RGTI usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 25 extraordinary options activities for Rigetti Computing. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 36% leaning bullish and 40% bearish. Among these notable options, 8 are puts, totaling $350,180, and 17 are calls, amounting to $2,583,104.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $37.0 for Rigetti Computing during the past quarter.

Volume & Open Interest Trends

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 $5.0 to $37.0 in the last 30 days.

Rigetti Computing Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

Having examined the options trading patterns of Rigetti Computing, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Rigetti Computing Standing Right Now?

• Currently trading with a volume of 96,049,225, the RGTI's price is down by -5.23%, now at $18.95.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 69 days.

Expert Opinions on Rigetti Computing

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $12.0.

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Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Rigetti Computing with Benzinga Pro for real-time alerts.