Options trading in Rivian Automotive Inc. saw a sharp increase by 11:31 a.m. New York time on Thursday, when exchange data compiled by Bloomberg showed 252,112 contracts had traded.
Calls dominated the session, with 196,530 call contracts exchanged compared with 55,582 put contracts. The most heavily traded single contract was the July 2 $20 call, which recorded 14,117 contracts traded against an open interest of 3,513 contracts. The second-most active contract was the January 15, 2027 $25 call, with 9,914 contracts traded and an open interest of 36,487 contracts.
Other call strikes registering significant volume included the July 2 $19 strike with 7,708 contracts, the July 2 $19.50 strike with 6,433 contracts, and the July 17 $20 strike with 5,185 contracts.
On the underlying equity, Rivian shares rose 11.1% to trade at $19.08 on Thursday. Short-term volatility metrics also shifted: the stock's three-month volatility increased by 4.15 percentage points to 74.64%. Meanwhile, the three-month 90/110 skew fell 3.99 percentage points to negative 3.36 percentage points.
Market context
The trading session was characterized by a strong tilt toward call buying, reflected in the distribution between call and put contracts and the concentration of activity in several short-dated July calls as well as a longer-dated January 2027 strike. Open interest figures show a mix of concentrated positions in both short-term expirations and at least one more distant contract.
Summary of facts
- Total options traded by 11:31 a.m. New York time on Thursday: 252,112 contracts.
- Call options: 196,530 contracts; Put options: 55,582 contracts.
- Top contract: July 2 $20 call - 14,117 contracts traded; open interest 3,513.
- Second-most active: January 15, 2027 $25 call - 9,914 contracts traded; open interest 36,487.
- Other heavily traded strikes: July 2 $19 (7,708), July 2 $19.50 (6,433), July 17 $20 (5,185).
- Share price at time reported: $19.08, up 11.1% on Thursday.
- Three-month volatility: 74.64%, up 4.15 percentage points.
- Three-month 90/110 skew: -3.36 percentage points, down 3.99 percentage points.
Implications for sectors
- The activity affects market participants in equity derivatives and options market-making.
- Movements in Rivian's stock and derivatives metrics are relevant to investors focused on the automotive sector.
- Volatility changes may influence short-term trading strategies and risk management in trading desks.
Data source note
The contract and volatility figures above are drawn from exchange data compiled by Bloomberg as of 11:31 a.m. New York time on Thursday.