Options Bulls Target RKT After Fresh Coverage

Calls are running at double what's typically seen

Deputy Editor
Jun 8, 2021 at 2:28 PM
facebook X logo linkedin

The shares of Rocket Companies Inc (NYSE:RKT) are up 4.6% to trade at $20.80 at last check. Today's positive price action comes after Piper Sandler initiated coverage with a "neutral" rating and $18 price target, while Argus Research started coverage with a "buy" rating and $23 price target. 

Options bulls are targeting RKT in response, with call volume running at double its intraday average. So far, 203,000 calls have crossed the tape, in comparison to 18,000 puts. The weekly 6/11 21-strike call is the most popular, followed by the June 21 call, with new positions being opened at both. 

These two new analysts are joining a mostly bearish brokerage bunch. Coming into today, 10 of the 12 analysts in coverage carried a "hold" or worse rating on RKT. Plus, the 12-month consensus price target of $20.38 was a 2% discount to current levels. 

Though Rocket Companies stock has been inching higher since its May 13 all-time low of $16.22, a ceiling at the 80-day moving average appears to have kept a lid on today's pop. Year-to-date, the stock is up 7.7%. 

RKT 0608


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI