{"id":65152,"date":"2025-09-12T02:00:36","date_gmt":"2025-09-12T07:00:36","guid":{"rendered":"https:\/\/www.tradestation.com\/insights\/?p=65152"},"modified":"2025-09-12T17:52:09","modified_gmt":"2025-09-12T22:52:09","slug":"options-alert-quantum-rigetti","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2025\/09\/12\/options-alert-quantum-rigetti\/","title":{"rendered":"Options Alert: Large Upside Trade in Quantum Stock"},"content":{"rendered":"<p>Rigetti Computing just broke out, and options traders adjusted a large bullish position.<\/p>\n<p>This large transaction occurred shortly after Friday&#8217;s opening bell:<\/p>\n<ul>\n<li>60,000 12-September 16 calls traded for $3.18.<\/li>\n<li>60,000 12-September 14 puts changed hands for $0.03.<\/li>\n<\/ul>\n<p>Volume was below open interest in those contracts. That suggests existing positions were closed shortly before their expiration at the end of the session. Two other blocks crossed at exactly the same second:<\/p>\n<ul>\n<li>60,000 September 20 calls were purchased for $0.67.<\/li>\n<li>60,000 September 17 puts were sold for $0.35.<\/li>\n<\/ul>\n<p>Volume was above open interest in these contracts, which expire one week later (on September 19). Given the expirations and open interest, it appears that a &#8220;risk reversal&#8221; position was closed and rolled forward in time.<\/p>\n<h2>Calls and Puts<\/h2>\n<p>The risk reversal, similar to a synthetic long, involves selling puts and buying calls. It&#8217;s an advanced options strategy with the potential to generate considerable leverage with significant risk.<\/p>\n<p><a href=\"https:\/\/www.tradestation.com\/insights\/2024\/05\/12\/the-basics-of-options\/\">Puts<\/a> fix the level where investors can sell a security. They tend to gain value to the downside and lose value when prices rise.\u00a0Calls fix the level where a stock can be purchased. They can appreciate when shares rally.<\/p>\n<div id=\"attachment_65155\" style=\"width: 1930px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-65155\" class=\"size-full wp-image-65155\" src=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/RGTI_20250912.jpg\" alt=\"\" width=\"1920\" height=\"918\" srcset=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/RGTI_20250912.jpg 1920w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/RGTI_20250912-300x143.jpg 300w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/RGTI_20250912-1024x490.jpg 1024w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/RGTI_20250912-768x367.jpg 768w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/RGTI_20250912-1536x734.jpg 1536w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/RGTI_20250912-1080x516.jpg 1080w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><p id=\"caption-attachment-65155\" class=\"wp-caption-text\"><em>Rigetti Computing (RGTI), daily chart, with select indicators.<\/em><\/p><\/div>\n<p>The risk reversal uses the proceeds from selling puts to buy calls. If prices gain, the trader benefits from the puts sold short losing value, while the calls may gain.<\/p>\n<p>That&#8217;s apparently what happened in the case of Friday&#8217;s trade. The investor would have collected $3.15 by closing the old position and spent $0.32 opening the new position. Making the adjustment also prevented the investor getting assigned shares.<\/p>\n<h2>Quantum Breakout<\/h2>\n<p>RGTI surged 15 percent to a nine-month high of $19.15 in afternoon trading. While no single headline seemed to explain the move, the stock has benefited from optimism about countries investing in quantum computing. RGTI, for example, announced on September 2 it would help India develop systems for academic and government research. CEO Subodh Kulkarni added that the deal could help the company design and deliver products for the giant Asian country.<\/p>\n<p>Quantum computing has moved from the theoretical fringes toward the mainstream in the last year. Originally intended for national-security purposes like advanced cryptography, the technology is now being explored for potential uses in commercial fields like drug development, logistics and finance.<\/p>\n<p>Friday&#8217;s large trade pushed total options volume in RGTI to about 3 times the daily average in the last month, according to TradeStation data. Other quantum-computing stocks like IonQ (IONQ) and Quantum Computing (QUBT) also climbed.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p><em>Options trading is not suitable for all investors. Your TradeStation Securities\u2019 account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. See\u00a0<a href=\"https:\/\/www.theocc.com\/Company-Information\/Documents-and-Archives\/Options-Disclosure-Document\">www.TradeStation.com\/DisclosureOptions<\/a>. Visit\u00a0<a href=\"http:\/\/www.tradestation.com\/Pricing\">www.TradeStation.com\/Pricing<\/a> for full details on the costs and fees associated with options.<\/em><\/p>\n<p><em>Margin trading involves risks, and it is important that you fully understand those risks before trading on margin. The Margin Disclosure Statement outlines many of those risks, including that you can lose more funds than you deposit in your margin account; your brokerage firm can force the sale of securities in your account; your brokerage firm can sell your securities without contacting you; and you are not entitled to an extension of time on a margin call. Review the\u00a0Margin Disclosure Statement at\u00a0<a href=\"https:\/\/uploads.tradestation.com\/uploads\/margin-disclosure-statement.pdf\">www.TradeStation.com\/DisclosureMargin<\/a><\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rigetti Computing just broke out, and options traders adjusted a large bullish position.<\/p>\n","protected":false},"author":39,"featured_media":65151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[14,30],"tags":[1398,1397],"class_list":["post-65152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-options","category-technology","tag-ionq","tag-rgti","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - 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Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories \u2013 especially those overlooked by other commentators. 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