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Riot Platforms, Inc.

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RIOT trade ideas

$RIOTOn Friday, RIOT rejected off of the 200-EMA which is usually a bearish signal. MACD also looks to be in bearish momentum as well. If riot breaks below $20 then I think it could go as low as $15 until buyers step in. I swung puts over the weekend and will determine what I want to do with my position once the market opens tomorrow. With cryptocurrency selling off like crazy over the weekend and BTC dropping roughly 25% over the last 4 days, this will also negatively effect the prices of $RIOT and $MARA.
NASDAQ:RIOTShort
by ChaseMColvin
3
Trade Idea: RIOT June 18th 17 or August 20th 15 Short PutRIOT announces earnings on Monday, so I'm not keen on stepping in front of what is likely to be a moving bus. However, I may consider something post-earnings and wanted to price things out here ahead of time to give me some idea as to where I might want to set up up my tent and what that might be paying. Unfortunately, the weeklies aren't that great for liquidity, and there's no July monthly at the moment, so would either have to trade June (33 days) or August (96 days). So, like, which one? June implied is at a whopping 185.3% (no doubt due to earnings); August at 120.7%. The June 18th 14 delta 17 strike is paying 1.23 at the mid, 7.8% ROC at max, 86.3% annualized; the August 20th 13 delta 15, 1.88, 14.3% at max, 54.4% annualized. I'm using the same approximate delta for both expiries to kind of compare "apples to apples." Naturally, there are trade-off's. The shorter duration, similarly delta'd June 17 pays more on an annualized basis, but it's closer to at the money. Conversely, the August 20th 15 pays less on an annualized basis, but is farther away from current price, so gives you more room to be wrong, as well as more premium to potentially take off at 50% max -- 50% max of 1.23 is .61; 50% max of 1.88 is .94. Additionally, the August setup has a smaller buying power effect versus the June: 13.12 versus June's 15.77 (cash secured). On margin, the difference will be smaller with a buying power effect for the 17 being around 3.40; the 15, 3.00 even. For me, it boils down to answering the question: "Am I comfortable with acquiring it at 17 or more comfortable at acquiring it at 15?" To me, the answer is "lower," and so am mostly likely to go with the August setup. Naturally, this will all be moot if it takes off like a rocket post-earnings, in which case I won't put on a trade.
NASDAQ:RIOTLong
by NaughtyPines
RIOT getting oversold on bull wedge, but it's still toast!So RIOT has been a hugely fun stock to trade, and with my 42k/30k BTC projection, it is easy to see why. Today RIOT reported an underwhelming 1771 BTC has been mined by their operation, with a 'today market value' of about 100m. And they are maybe going to add some capacity if semiconductor shortages and bitmain are able to deliver more. Sporting a market cap of 2.5B today, this is quite a premium for a weak bitcoin generation operation. If you are also thinking bitcoin struggles in the short term, the future value is even lower. Plus, bitcoin adjusts difficulty every ten days, so if others are adding hardware, it is possible the expected gains from additional hardware may be cut somewhat. Of course, the opposite of all these things could also happen - and even if they did, this thing is still way, way too expensive! I would expect a market cap around the 500m range, or about 1/5 of where it trades today if my predictions are true, and if I am exactly wrong and things double instead of halve, perhaps you could get to a 1B value, implying a 60% premium today. Technically, it looks like we might find support in this ~~30 zone - including from a bull wedge formation. This would imply a bounce toward thick green uptrend line - call it 35-37, but frankly I don't see any catalyst to push through it except a massive BTC rally. My short term (call it June-ish) is 20-25 with a longer term September target range of 10-17. Very disturbingly, the small mini rally on BTC from under 50k to 58k over the past few weeks saw RIOT's price continue to decline - exactly not what one would expect! There is a clear descending triangle forming (blue lines), weakening RSI, MACD - none of the things you'd want to see (weekly MACD looks atrocious). This wedge might get you a chance to get out and get short, if you're not already. GL!
NASDAQ:RIOTShort
by tacosaurus
RIOT Bull put spreadRIOT Bull Put spread 37 sold 36 bought, 7 DTE, 25% ROI Earnings isn't until May 17 BTCUSD 1h is sideways trend, testing 1h supply, broken downward momentum line, with a new RBR RIOT Strong sell off into March 25 demand zone 1st touch was into proximal edge 2nd spike down yesterday could just be momentum continuation Pullback into 5min buying zone, unconfirmed demand Passively selling off on 5m chart today, almost touching the origin base 5m chart VPOC 5 min chart double top highs this morning makes me think there's more weakness above aggressiveness below. It all depends on the current level at 43 actually holding with buyers stepping back in. Short strike is 37 tucked into next demand zone down with an aggressive imbalance from Mar 9 I think the current demand zone at 43 plays defense for me and if buyers can reverse momentum and remove supply at 50 it'll be a great trade If not, I've got the Mar 5th zone as backup defense. With thanks to @ThetaTrades @alleytrader for the idea
NASDAQ:RIOT
by claypuzzle
$RIOT Target PTs 61-65-79 and higherBullish Pennant, continuation patterns Riot Blockchain, Inc., together with its subsidiaries, focuses on cryptocurrency mining operation in North America. The company primarily focuses on bitcoin mining. As of December 31, 2020, it operated a fleet of 7,043 miners. The company was formerly known as Bioptix, Inc. and changed its name to Riot Blockchain, Inc. in October 2017. Riot Blockchain, Inc. was incorporated in 2000 and is based in Castle Rock, Colorado.
NASDAQ:RIOTLong
by BADQOMOCAWGOWLD
1
RiotSo a while back we were very bullish on riot being in a very bullish consolation. With the massive rejection at 62 getrinf stopped out of positions I had a new ide that it could turn into a descending traingle which is bearish although can still break bullish. After the wick to the bottom side shaking many people out, it could be flagging here making its may to retest descending resiatnce. It’s catching resiatnce on the 4hr 20 ema. The top of flag resistance is 42.15 if we can confirm support above here we could have a good move up. 47.12 would be breakout of triangle in my opinion so if you’d rather wait for that don’t blame ypou. I
NASDAQ:RIOT
by Erictaylor
1