Has the Rivian (RIVN) trade been risk-on with short covering? Is the support level at $20 reasonable? Rivian has the 21st highest market-cap in the auto industry, behind Kia. Can the EV maker deliver 50K vehicles in 2023? Tim Biggam discusses an example options trade on RIVN ahead of their earnings report. The trade type is a put diagonal with a $21.55 breakeven.
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