High-rolling investors have positioned themselves bearish on Core Scientific CORZ, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CORZ often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Core Scientific. This is not a typical pattern.
The sentiment among these major traders is split, with 22% bullish and 66% bearish. Among all the options we identified, there was one put, amounting to $40,320, and 8 calls, totaling $402,050.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $7.5 to $20.0 for Core Scientific over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Core Scientific stands at 5485.83, with a total volume reaching 3,600.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Core Scientific, situated within the strike price corridor from $7.5 to $20.0, throughout the last 30 days.
Core Scientific Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CORZ | CALL | SWEEP | BEARISH | 07/19/24 | $0.95 | $0.8 | $0.8 | $10.00 | $109.1K | 16.7K | 1.5K |
| CORZ | CALL | TRADE | BULLISH | 09/20/24 | $3.1 | $2.8 | $3.0 | $7.50 | $75.0K | 6.4K | 10 |
| CORZ | CALL | SWEEP | BEARISH | 12/20/24 | $2.9 | $2.85 | $2.85 | $9.00 | $53.2K | 3.3K | 0 |
| CORZ | CALL | SWEEP | BULLISH | 01/17/25 | $0.85 | $0.8 | $0.85 | $20.00 | $48.8K | 5.6K | 246 |
| CORZ | PUT | TRADE | BEARISH | 01/17/25 | $4.2 | $3.9 | $4.2 | $12.00 | $40.3K | 100 | 0 |
About Core Scientific
Core Scientific Inc is engaged in Blockchain and AI Infrastructure, Digital Asset Self-Mining, Premium Hosting, Blockchain Technology, and Artificial Intelligence related services. The business operates in two segments being; Equipment Sales and Hosting which consists of blockchain infrastructure, third-party hosting business and equipment sales to customers. Mining segment consists of digital asset mining for its account. The blockchain business generates revenue from the sale of consumption-based contracts and by providing hosting services. The digital asset mining segment earns revenue from operating a firm's owned computer equipment as part of a pool of users that process transactions conducted on one or more blockchain networks. In exchange, it receives digital currency assets.
In light of the recent options history for Core Scientific, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Core Scientific's Current Market Status
- With a volume of 3,958,076, the price of CORZ is up 8.2% at $10.03.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 48 days.
Professional Analyst Ratings for Core Scientific
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $11.0.
- Consistent in their evaluation, an analyst from BTIG keeps a Buy rating on Core Scientific with a target price of $10.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Core Scientific, which currently sits at a price target of $11.
- Maintaining their stance, an analyst from BTIG continues to hold a Buy rating for Core Scientific, targeting a price of $15.
- Showing optimism, an analyst from BTIG upgrades its rating to Buy with a revised price target of $8.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Core Scientific options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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