June 6, 2026
OpenAI Is Preparing to Go Public
Featured: Rivian’s Options Market Is Sending Two Messages
From the Desk of InvestorPlace: I don’t forward many outside notes to my readers. But this one from my colleague Luke Lango stopped me cold. If you’ve been following the OpenAI IPO story – and most of our readers have – what Luke is about to share could completely change how you approach it. Please read this carefully before IPO day arrives.
Dear Reader,
It’s no longer theoretical. It’s officially in motion.
CNBC just announced that OpenAI – the inventors of ChatGPT – are about to file the confidential paperwork to go public.
And it could be the largest IPO in American history.
We all knew it was coming. But here’s what almost everyone is about to get wrong.
They’ll rush to buy OpenAI the moment it hits the market.
And if history is any guide, most of them will regret it.
In nearly every blockbuster tech IPO of the last 15 years, the people who bought on day one underperformed.
While a small group of other folks made as much as 3,900% on a little known investment connected to the IPO.
I call it the Pre-IPO Backdoor.
In my view, it’s one of the best moneymaking opportunities out there.
It rarely comes around. You only see it when a huge tech company goes public.
And it’s about to open again, thanks to the OpenAI IPO.
There’s only one catch. You need to get in before OpenAI actually goes public.
And that could happen very, very soon.
For the full story – and a free ticker you can invest in TODAY – click here.
Sincerely,
Luke Lango
Senior Technology Analyst, InvestorPlace
P.S. There’s every chance the OpenAI IPO will be the biggest in American history. And that means the Pre-IPO Backdoor opportunities could be the biggest ever too. You may never see another opportunity like this in your lifetime. For your free ticker, click here now.
Rivian’s Options Market Is Sending Two Messages
Macro conditions have not been kind to speculative growth. Higher-for-longer rate expectations and tighter liquidity have a way of making duration expensive, and EV challengers sit right in the blast radius. Still, when a sector gets squeezed, it can also get loud.
Rivian Automotive (RIVN) is a clean example. The stock has been swinging hard into early June, and the options market is reflecting that unease in two very different time horizons. As of the June 4, 2026 close, RIVN was around $18.12, with 30-day implied volatility near 68.5% and an options market showing elevated activity versus typical days. ([alphaquery.com](https://www.alphaquery.com/stock/RIVN/volatility-option-statistics/30-day/iv-mean/1000))
Here’s what stands out. Near term, call demand has been strong. Across the complex, Barchart data showed roughly 176k contracts traded in the session it reported, with a put/call volume ratio around 0.40, which is a call-heavy skew. ([barchart.com](https://www.barchart.com/etfs-funds/quotes/RIVN)) That doesn’t prove “retail” by itself, but it does match the kind of short-dated, directional appetite that tends to show up when traders want a fast payoff.
But the longer-dated side looks more cautious. The same Barchart snapshot showed a put/call open interest ratio near 0.84, meaning existing positioning is more balanced than the daily volume suggests. ([barchart.com](https://www.barchart.com/etfs-funds/quotes/RIVN)) That gap between what is trading today (calls) and what sits on the books (more mixed) is often where the real story lives.
A key accuracy note: the specific strikes you referenced, “short-dated June $11 and $12 calls,” do not line up with where RIVN is currently trading near $18. Those strikes would be deep in-the-money, and the more typical speculative behavior is usually concentrated in out-of-the-money calls above spot. In other words, there may be heavy June call activity, but pinning it to $11 and $12 is unlikely to be the cleanest description given current price levels. ([alphaquery.com](https://www.alphaquery.com/stock/RIVN/volatility-option-statistics/30-day/iv-mean/1000))
So what’s the practical takeaway? If you believe RIVN is headed for a sharp move but you are not confident on direction, the market’s behavior points toward why long straddles keep showing up. Buying a call and a put at the same strike is a bet on magnitude. It needs speed and range, and it pays for it upfront. With implied volatility already elevated, the bar is not “a move,” it’s “a bigger move than the premium implies.” ([alphaquery.com](https://www.alphaquery.com/stock/RIVN/volatility-option-statistics/30-day/iv-mean/1000))
One more nuance: pairing short-dated call speculation with longer-dated protective puts is not contradictory. It is two different goals. One crowd wants convex upside right now. Another wants insurance through the summer. It’s messy, and that’s the point.
Worth watching next: whether call-heavy daily flow persists while open interest shifts more aggressively toward puts, and whether implied volatility stays high even on quiet stock days. That combination tends to matter more than any single strike.
